Remembering Michael Bond Page 7
The newspaper for retired BBC Pension Scheme members • December 2017 • Issue 6 PROSPERO REMEMBERING MICHAEL BOND PAGE 7 PENSION SCHEME | PENSIONS PENSIONERS’ LIAISON MEETING 2018 This year’s PLM at the Council Chamber, Broadcasting House, was attended by over 60 BBC pensioners, who heard from two trustees and members from the Pension Executive who oversee the management of the BBC Pension Scheme (the Scheme). t was an engaging and interactive meeting where The floor was then opened up to questions, and the updates were provided in relation to the Scheme’s BBC pensioners asked an array of questions covering Ifunding, investments and service to members and everything from investments and data security, to PIE provided an open forum for pensioners, where pertinent (pension increase exchange) and obituaries in Prospero. and relevant questions were addressed to the speakers. One pensioner questioned the Scheme’s investment in The session was introduced by Bill Matthews, chair of companies that ‘avoid UK tax’ (the single largest the Trustees, who gave an introduction and looked at corporate investment being Amazon, for example), the highlights from the Scheme year – which included while another asked whether the Scheme was the completion of the 2016 actuarial valuation. contributing to the decline of the high streets by raising rents for retailers. Phil from the investments team ‘The annual valuation is a huge effort that we carry out answered: ‘We’re not here to be moral arbiters, we’re on a three-yearly basis, where we assess how much the here to get the best returns. These companies all obey Scheme is worth and how much it needs to pay out to the laws that are applicable to them.’ members.
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