2012
May
The BBC's director of archive content, Roly Keating, who was our guest speaker at our 2011 AGM is to leave the corporation to become chief executive of the British Library in September.
Read more on the MediaGuardian news site.
April
BBC Pension Trustees — Caroline Thomson who became a Trustee in 2001 has recently stood down from the post and been replaced by Ken MacQuarrie, Director, BBC Scotland.
Jan Killick has resigned as Head of BBC Pensions — to work for Oxford University.
March
Bud Evans resigned his position on the Association's Committee. The Committee expressed its warmest appreciation for his contribution and very best wishes for the future.
Pensions Unions' CPI appeal unanimously rejected — The unions challenge to the government regarding the adoption of CPI to calculate public expenditure including pensions and some benefits has been rejected by the Court of Appeal. The unions are considering taking their case to the Supreme Court but we don't think that will happen. There are major studies going on about the type of costs included in RPI and CPI calculations at the moment. This might iron out some wrinkles between the two methods but we would guess the CPI will prevail in the long term. But this does not mean all organisations need follow suit and apparently the BBC have no intention to change the rule for the Old and New schemes, for which annual increases are calculated on the basis of RPI. The other, newer, schemes are based on CPI.
The February readings for RPI is 3.7% (the lowest for two years) and 3.4% for CPI. Both are on the downward trend.
PwC proposes 'benign' Solvency II solution.
Read more on the Professional Pensions website - www.professionalpensions.com
February
EIOPA advice leaves door open for Solvency II for schemes.
Read more on the Professional Pensions website - www.professionalpensions.com
Barnier: I will not 'copy and paste' Solvency II.
Read more By Michael Bow on the Professional Pensions website - www.professionalpensions.com
EU plan risks final salary pension deals City AM website - www.cityam.com
January
Solvency II - David Alan and Alan Bilyard from the BBCPA attended Occupational Pensioners' Alliance (OAP) meeting. Hugh Evans from Towers Watson was a contributor on representing the UK case in Brussels. Only UK, Ireland, Belgium & Holland have occupational pension schemes. It was reported that Holland was reducing pensions in payment. UK appeared to be unique in having a Pension Protection Scheme. EU Commission was now trying to calm fears by saying that it was not intended that Pension Schemes should be subject to the same conditions as Insurance.
The Occupational Pensioners' Alliance (OPA) is holding a regional meeting on 16th February at the Riverside Arts Centre, The Studio, 59 Thames St, Sunbury-on-Thames at 10.30am. The meetings at Sunbury are informal and are open to all members of OPA, however if BBCPA members wish to attend please let Alan Bilyard know so that he can book you in.
The meeting often concludes over lunch at the attractive pub opposite called the Magpie. The station is a mile or two away so you can either come by car (cheap public car parks are nearby) or expect to get a taxi from the station (Sunbury).
There will be presentation of the topical subject covering the plans to bring European pensions regulation into line with the insurance industry's Solvency II regime. The speaker/presenter is Hew Evans (Towers Watson and Pensions Advisory Service).
The December RPI from the Office for National Statistics was 4.8% and CPI 4.2%. The RPI figure is the one that will be applied to BBC pensions from April 2012 (Old and New benefits). CAB schemes are capped at 4% (2011), and 2.5% (2006).
See BBC Pension site - Pension increase 2012
EU plans may 'kill off' company pension schemes — It has been reported in the press that all British occupational pension schemes could be rendered unsustainable by proposed European Union regulations. See full article by James Kirkup in the Telegraph. 4th Jan.
A memorial service for Barry Paine will take place at St Mary Redcliffe, Bristol on 5 January 2012 at 2.00pm. All who knew Barry are invited to attend.