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5 Remuneration report
This report explains the remuneration policy of the BBC for the BBC World Service Management Board. Details of Management Board remuneration are included within Note 3c to the financial statements.
 
The remuneration policy for members of the BBC Executive Committee, including the remuneration package for the Director, BBC World Service and Global News, is set by the Remuneration Committee which is a sub-committee of the Board of Governors. The remuneration of other members of the Management Board is recommended by the Director and approved by the BBC Director-General and the BBC Director of Human Resources and Internal Communications.
 
The Director assesses the performance of the Management Board members before recommending their annual remuneration and bonus awards. BBC World Service’s Human Resources Director provides technical support to the Director in this respect, but has no input into decisions affecting her own remuneration.
 
The BBC aims to ensure that the packages offered to Management Board members:
 
+ enable BBC World Service to attract, retain and motivate high-calibre executives
+ remunerate individuals fairly for individual responsibility and contribution, while providing an element of performance-related pay, reflecting the underlying performance of BBC World Service
+ take into account salary policy within the rest of the BBC and the relationship that should exist between the remuneration of Management Board members and that of other employees

The remuneration arrangements for Management Board members include the following components:
 
Basic salary
Basic salaries are reviewed in August each year, taking into account external market levels and internal comparisons as well as the individual’s responsibilities and performance. The basic salary is paid as a fixed sum monthly in cash.
 
Annual bonus
Management Board members are eligible to receive a bonus of up to 10% of basic salary for meeting certain performance targets. Qualitative and quantitative objectives are set at the beginning of the financial year, and performance is reviewed at the end of the year. As a member of the BBC Executive Committee, the Director, BBC World Service and Global News, participates in a performance-based annual bonus scheme under which payments may be awarded up to a maximum level of 30% of base salary. Bonuses are reflected in the financial statements on an accruals basis for the performance period under review. Actual payments are made in August each year.
 
Benefits
In addition to salary and bonus, the main contractual benefits provided to Management Board members are a car, private health insurance, pension and life insurance. The Director is also entitled to a car fuel allowance.
 
Pensions
Management Board members are eligible to participate in the BBC Pension Scheme, which provides salary-related pension benefits on a defined benefit basis, with an accrual rate of 1/60th of final salary per year of service, subject to the Inland Revenue earnings cap where appropriate. Only basic salary is pensionable. The scheme provides for early retirement on medical grounds and life insurance cover of four times salary.
 
 
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