Pensions Forum – first thoughts

Well, if there are “concessions” then they’re being saved up for September 1st, when the BBC will respond to the feedback so far. Repeatedly Mark returned to the theme that the consultation is genuine, all options are being considered, and he’s hearing loud and clear that the 1% cap on pensionable salary is the biggest issue for staff. But he was also clear that this is close to being a zero sum game; more money spent in one place will mean less elsewhere.

Interestingly, in discussion with Lucy Adams afterwards she explained that a measure like raising the retirement age to 65 is close to impossible; 60 is written into the scheme rules, and changes to the rules aren’t allowed if they’re deleterious to the members. Apparently this is true even if the trustees agree to the change; a legal challenge to the rule change would in all likelihood succeed.

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