BBC Pensions

Well, perhaps this is the same offer that anyone else joining at the same time would have got but:

Under the BBC pension schemes, which allow staff to retire at 50, the corporation pays in about three times the amount paid in by employees.

Three to one employer payments? Retire at 50? Sheesh.

You might just about understand the low retirement ages for, say, footballers (45 I think they can draw their pension?) or firemen, but what\’s the argument for the BBC? The physical strain of switching on a microphone?

8 thoughts on “BBC Pensions”

  1. As George Bernard Shaw said,
    one who is not a socialist at 20 has no heart,
    and one who remains a socialist at 40 has no head.

    Perhaps the beeb reckons by 50 we are too old to fight for the cause and new blood is needed. We can’t have those oldies using their wisdom to point out the flaws in the beeb’s beloved statism and oher assorted lefty thinking, can we?

  2. Hang on – I can speak from personal experience here. The BBC pension ‘allows’ the staff to retire, with a rate based on pro-rata how long you’ve worked. Retirement is the statutory age normally.

  3. I liked the bit about “the Corporation” pays three times as much as the employee. Where does “the Corporation” get the money from? Oh yes….. silly of me.

  4. The BBC’s pension scheme is like most schemes you can retire early and you get less money.

    The amount paid by the employee has steadily risen and will rise more in the future. It has always been a final salary contributory scheme, although like most schemes it has put restrictions in over the last few years. The BBC matches my contributions which again I think is typical for those lucky enough to have final salary schemes.

    The M&S scheme until very recently was far more generous and required no contributions at all. So I’m relying more on my wife’s pension than my BBC one.

  5. RichardV – that’s begging the question. Perhaps some occupational pensions are as well funded and pay out as well as those in the public sector. But most do not. Is it reasonable to assume that defined benefit schemes are acceptable in the public sector where they are only a dream for most of those in the private sector? The 3:1 contributions ratio seems overly generous, even if it is declining. Remember, UK TV viewers paid your pension contributions (all of them, since they paid your salary too) under threat of imprisonment.

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