The BBC ANNUAL REPORT Pay, Gender, Pension Deficit

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March 10, 2017
*UPDATE* 2017 Pension increase 2.5% confirmed
April 4, 2017

The BBC ANNUAL REPORT Pay, Gender, Pension Deficit

THE BBC ANNUAL REPORT
…a gift for the media

The annual report and the press reaction to it seems to have been a gift for the media.
Not only did the Government’s insistence on the BBC revealing the salaries of its highest paid staff and presenters grab the headlines but the gender disparity too.

For us Pensioners there is a more serious side to the report in that the deficit is down.

Long term with, (dare I mention the word?) BREXIT things may change overnight.

MEDIA STORM
It is no surprise that these facts have created a ‘media storm’ with lots of newspaper headlines and online commentary.  Members may be interested in reading the link below.  The piece explains the timeline involved in the decision by the Government to force the BBC to publish these salaries and also why, in their opinion, it is being used to undermine the BBC.
https://theconversation.com/unveiling-bbc-talents-pay-is-a-deliberate-attempt-to-undermine-a-great-british-institution-81198

Where there is a gender mismatch in employment and pay this is a view outlined by Anne McElvoy of The Guardian.  https://www.theguardian.com/commentisfree/2017/jul/19/bbc-pay-gender-gap-women

BBC PENSION SCHEME DEFICIT
Whilst we await the publication of the most recent actuarial valuation of the BBC Pension Scheme, the BBC Annual Report does, in fact, give BBC Pensioners some interesting facts and figures. The Report states, amongst other things that in 2016 there was an overall BBC Pension funding shortfall of £1,769m and an 11 year recovery plan by the BBC is outlined.  This drop in deficit from 2013 (£2,054m) is obviously welcome but it would seem that financial constraints on the BBC have led them to extend the recovery plan by 2 years to 2028.

This information can be found at Pages 140-143 of the BBC Annual Report 2016/17 which can be found and in turn downloaded via this link.
http://www.bbc.co.uk/aboutthebbc/insidethebbc/howwework/reports/ara

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