My, they do seem generous, no ?
The old final salary scheme guaranteed a retirement income until death, came with an inflation link and a retirement age of 60.
Started in the 1940s of course.
Last year the BBC paid an effective contribution rate of 42.3pc of staff salary into the old scheme,
You can see why they were so keen for supposed staff to be working through personal service companies, no?
#For that’s what they were really saving – the NI contributions be damned – by doing so. Somewhere in there is a canny actuary.