BBC raid: pensions again
http://www.telegraph.co.uk/culture/tvandradio/bbc/8072241/BBC-may-pick-up-556m-bill-for-pensioners-TV-licences.html
So the Conservative/Liberal government has started its expected attack on the BBC. £556m is a pretty drastic loss of funding. However, the picture is a bit more complicated if you look at the BBC's annual report for Y/E March 2010, page 11, things look a little weirder. The BBC actually reported a £512m surplus last year. Clearly someone has looked at this and decided to raid it. However the pension fund reported a £1.3bn "actuarial loss", which represents the difference in the amount expected to be paid out in pensions (increased) versus the value of assets held by the pension fund (decreased).
Pensions are the great financial fudge issue of our time. I suspect the intent is to force the BBC to have another fight with its staff over pension rights.
I support the BBC, but it seems to have ineptly developed an image problem in recent years. Maybe the time is right for a reality-style documentary on inside the BBC, which I think would do a power of good.
So the Conservative/Liberal government has started its expected attack on the BBC. £556m is a pretty drastic loss of funding. However, the picture is a bit more complicated if you look at the BBC's annual report for Y/E March 2010, page 11, things look a little weirder. The BBC actually reported a £512m surplus last year. Clearly someone has looked at this and decided to raid it. However the pension fund reported a £1.3bn "actuarial loss", which represents the difference in the amount expected to be paid out in pensions (increased) versus the value of assets held by the pension fund (decreased).
Pensions are the great financial fudge issue of our time. I suspect the intent is to force the BBC to have another fight with its staff over pension rights.
I support the BBC, but it seems to have ineptly developed an image problem in recent years. Maybe the time is right for a reality-style documentary on inside the BBC, which I think would do a power of good.