Broadcast News

Bookmark and Share
21/04/2006

BBC announces pension changes

The BBC has announced that it is to close its final salary pension scheme to new members.
The proposals announced by Director-General Mark Thompson would see the closure of the final salary pension scheme to new members from August 31, 2006.
The proposals also include plans to raise the pension age from 60 to 65, for all benefits built up after March 31, 2006.
Under the proposals, members' contributions to the pension scheme would also increase, rising from 5.5% to 6% on September 1 and to 7.5% on April 1 next year.
Member contribution rates would be reviewed again following the 2007 valuation and, subject to approval from the Pension Trustees, a further increase of up to 1.5% might be added from April 1 2008.
In an email to BBC staff, Mr Thompson said: "Pressure on the funding of pension schemes has increased for all employers over recent years. Improved life expectancy, anticipated lower investment returns, plus mounting legislative requirements have all served to increase the cost of providing a pension.
"The BBC pension scheme is currently healthy, but it is reaching the end of its surplus and the risks associated with funding a final salary scheme on the scale of ours have affected the affordability of the scheme.
"The BBC pension scheme has a special place in our reward package and it provides valuable benefits. I also believe it's important to the BBC as an organisation - helping us attract and retain the talented people we need to provide great services for the public.
"But the pressures on the scheme mean that for it to remain secure and affordable, we have to make some changes both to its benefits and to the level at which it is funded by the BBC and its members. Doing nothing is not an option."
However, unions have criticised the plans.
Jeremy Dear, General Secretary of the National Union of Journalists, described the proposals as a "bitter blow" for staff. He said: "The BBC will create a two-tier workforce, force some staff to work longer and expect all staff to pay more for the privilege of doing so. All those under 50 face paying more and working five years longer simply to get the same pension. The BBC's promises have been shown to be worthless and it is hardly surprising staff are reacting with anger.
"The pension scheme is cash-rich, in surplus and the BBC admit there is no crisis - so why are they seeking to penalise staff in this way. It is all the more galling that staff are being asked to pay up to £20 million a year more when the BBC themselves have saved more than £1 billion by paying reduced contributions since 1992.
"The BBC should halt the planned changes. The NUJ will consult with members over the coming days and our reps will meet next week to consider their response. What is clear is we will not accept attempts to make staff pay for the BBC's failure to properly fund the scheme."
(KMcA/GB)

Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

08/03/2023
Atomos Awarded 'Innovation Of The Year 2022'
Atomos has announced that its Sapphire 8K Global Shutter Sensor has been awarded the 'Innovation of the Year 2022' Lucie Technical Award. These awards
20/02/2023
Agile Content Unveils 2022 Year-End Forecast
Agile Content, a listed company and provider of Internet TV and broadcast solutions, has released its 2022 year-end forecast, maintaining its position
21/04/2023
HPA Opens Call For Proposals For 2023 HPA Engineering Excellence Award
The Hollywood Professional Association (HPA) Awards Committee has announced the opening call for submissions for the 2023 HPA Engineering Excellence A
14/09/2023
PGGB Announces Members Of Its Yorkshire Committee
The Production Guild of Great Britain (PGGB) has announced the members of its new Yorkshire Committee, the sixth and final National and Regional Commi
08/06/2023
BBC Appoints Kerensa Samandis As General Manager For BBC iPlayer
The BBC has appointed Kerensa Samanidis as General Manager for BBC iPlayer. Kerensa joins from Channel 4 and will start the new role on 19 June. Repor
28/03/2024
ENCO To Showcase AI-Driven Virtual Anchor
At the 2024 NAB Show, ENCO will showcase an AI-driven virtual anchor delivering live news from a realistic 3D virtual news set. This innovative presen
12/04/2006
Strike threat over BBC pensions
Bectu officials have warned that the union will ballot for industrial action if the BBC makes radical changes to its pension scheme. Responding to pre
13/04/2016
Production News : Nominations Announced For RTS Scotland Awards 2016
The Royal Television Society (RTS) has announced the nominations for this year's RTS Scotland Awards 2016. The awards cover all forms of production in
06/02/2018
Nominations For RTS Television Journalism Awards 2018 Announced
The Royal Television Society (RTS) has announced the nominations for the RTS Television Journalism Awards 2018. The awards ceremony, sponsored by Gues
11/04/2017
RTS Announce Scotland Awards 2017
The Royal Television Society (RTS) has announced the nominations for the RTS Scotland Awards 2017. The awards cover all forms of production in Scotlan
02/10/2015
RTS North West Announce Awards Shortlist
The Royal Television Society (RTS) North West Centre has announced the shortlist for its annual awards at an event hosted by CBBC presenter Lauren Lay
29/09/2017
RTS Announces Nominations For North West Awards 2017
The Royal Television Society (RTS) North West Centre has announced the nominations for its annual awards, at an event sponsored by Audio Network. Cat
14/03/2024
pixitmedia Appoints New Team Members
pixitmedia, a Kalray company, has appointed three new team members to its Leadership Team. As Chief Marketing Officer, Penta Stanley will lead pixitme
04/11/2014
Production News - RTS Announces Craft & Design Awards Shortlist
The Royal Television Society (RTS) has announced the shortlist for the RTS Craft & Design Awards 2013/2014. The winners will be announced at a ceremon
23/11/2001
CONSULTATION ON BBC PENSIONS
UNIONS are canvassing members' views on ‘unacceptable’ changes in BBC pensions. At a meeting, representatives of BECTU and NUJ were told that a cut in