BBC alters pensions

Changes to the BBC’s pension schemes, which were announced for union consultation earlier this year, came into effect at the start of this month.

On 1 November, the organisation’s defined benefit (DB) scheme closed to new members. New staff will be able to join a career average revalued earnings (Care) scheme.

Roger Fairhead, head of reward, said the move was intended to ensure the sustainability of the DB plan, which currently has a surplus of funds.

Previously, staff could join the DB scheme after two years’ service. Those who joined the BBC before 31 October 2006 are still eligible on completing their first two years of service.