Press Office

Wednesday 24 Sep 2014

Press Releases

BBC Pension Scheme – a statement

The BBC today put forward a series of proposals to staff relating to potential changes to the BBC Pension Scheme. This follows the publication of the 2009 interim valuation by the BBC Pension Trustees which showed that the Scheme's deficit had increased from £470m (2008) to around £2bn.

The proposed changes will help to ensure that the BBC Pension Scheme remains sustainable, flexible and affordable for the future.

The proposed changes are:

  • Closing the Defined Benefits Scheme for new joiners from December 1 2010. Existing members will remain in the Scheme.
  • Current members of the Scheme will continue to build up benefits under the current structure. However, from April 1 2011 future salary increases for calculating pension benefits will be limited to 1% per annum.
  • A new competitive and flexible Defined Contribution plan will be introduced for new joiners. Existing pension Scheme members will be given the choice of joining the new Defined Contribution plan or remaining in the existing Scheme under the changed terms outlined above.

The BBC will now undertake a 90-day consultation period between July 1 2010 and September 30 2010.

More information can be found on the BBC Pension Scheme website at bbc.co.uk/mypension.

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