Pension Increases BBC pensions are reviewed annually and any increases are awarded on 1 April. You can call the pension service line with any questions about your benefits from the Scheme. If you have any questions about your pension after it starts, please contact: Post: Operations and Communications Manager Pension and Benefits Centre Broadcasting House Cardiff CF5 2YQ Phone: 029 2032 2811 Email: myPension@bbc.co.uk Please quote your pension number in all correspondence. He nominates Mr Willis as his dependant. We provide pension administration services on behalf of BC's College, Municipal, Public Service, Teachers' and WorkSafeBC pension plans, serving more than 1000 plan employers and just over 426,000 active and retired plan members. Trustees BBC Pension Trust Limited is the sole Trustee of the Scheme. Do you have a private pension scheme. If no dependant's pension is payable, the children's pensions will be doubled. If there is no qualifying spouse or nominated dependant, the trustees have discretion to award a pension to any person who was financially dependent on you at the date of your death. You are therefore asked to let the trustees know your choice of beneficiaries by completing the expression of wish form on the downloads page. At the trustees' discretion, they may continue to receive one until they finish full-time education - which is normally first degree or equivalent. Pensioners' leaders have held “robust” talks with BBC chiefs after 3.7 million over-75s were stripped of free TV licences. They take into account, but cannot be bound by, a member's wishes. Relay UK (if you cannot hear or speak on the phone): 18001 then 0800 169 0154. When you die - New Benefits (joined 01/10/96 - 31/10/06). It provides benefits Mr Williams dies two years after retirement. Alternatively, if you are in receipt of an ill health pension and die before normal retirement age, the lump sum will be equal to four times your pensionable salary when your service ceased, less any lump sum you chose to take on retirement under the cash option. The actuarial valuation is required under the terms of Clause 16.2 of the Trust Deed & Rules and Part 3 of Show memorable word . The Parliamentary Ombudsman Ann Abraham, says 85,000 people should receive compensation, after losing all or part of their pensions. Please note that these are case sensitive. Mr Williams retires at age 60. It is essential that the government creates a pension system that is simple to explain. Otherwise, there is a real risk that, whatever the merits of the white paper proposals, individuals will opt out of a system that they cannot understand. The opinions expressed are those of the author and are not held by the BBC unless specifically stated. Registration is easy and you only have to do it once. His annual pension is £6,000. The trustees have discretion over who receives the cash and in what proportion. Your qualifying children will be entitled to a third share (two-thirds if there is no qualifying spouse) of your full pension. Does my pension increase? For further information please contact our Membership secretary, Maurice Maguire at membership.bbcpa.org.uk. Pension Increases BBC pensions are reviewed annually and any increases are awarded on 1 April. Current Assets for BBC Pension Scheme is $26,519,500,000 and SWFI has 2 periods of historical assets, , 7 transactions, 1 Opportunities/RFPs, 3 personal contacts available for CSV Export. If you do not take a partial refund of your own contributions your qualifying spouse or nominated dependant will be entitled to two-thirds of your full pension. All Rights Reserved. Website by. Not registered yet? He commutes £1,125 for a lump sum of £13,500, leaving a reduced pension of £4,875. Pensions: Confusing Small Print — Rip Off Britain, Series 5, Episode 19 Our expert helps one viewer who is struggling to understand his pension Duration: 2:44 He exchanges some of his pension for a lump sum and receives a lower pension. His annual pension is £12,000. Personal Security Number - If you don't have this, please call the pension service line on 02920 322811. If you are being paid an incapacity pension and die before normal pension age, the trustees will make a lump sum payment, which is currently free of inheritance tax. Telephone: 0800 169 0154. Children cease to be eligible for a pension when they reach 18. He nominates Mr Willis as his dependant. BBC Pension Increases On 20 January 2021 the inflation figures for December 2020 were announced by the Office for National […] Contact the BBC Pensioners’ Association If you wish to send a message to the Association about your membership or comment on any technical or editorial aspects of the web site, please complete and submit the form opposite, or simple email us at membership@bbcpa.org.uk This section contains download links to all the relevant pension info you should need. Why Join the BBCPA. Download the latest edition of Prospero, the magazine for BBC Pensioners. There may be benefits payable after your death. They will take into account your wishes regarding the choice of beneficiaries, but cannot be bound by them. It will be equal to four times your pensionable salary as at the date you left service, less any lump sum you took in exchange for pension. On your death the following benefits are payable: Your qualifying spouse, qualifying civil partner or nominated dependant will receive a dependant's pension of half your pension, as it would have been but for any commutation you chose to take. A lump sum cash payment of £14,625 (ie £4,875 x 3); and an annual pension of £3,000 (ie £6,000 x 1/2) for the rest of his life. Your qualifying children (up to a maximum of two) will each be entitled to a quarter (half if there is no qualifying spouse) of the pension you would have received had you remained in pensionable service until normal retirement age, but based on your final pensionable salary at the date of your death. It will be equal to the pension payments you would have received for the remainder of the five years at the rate payable immediately before your death, ignoring any levelling adjustment. You can manage or block these using your browser settings. Once you have registered, you will be able to manage your pension details online and keep us updated with any changes, contact us and securely upload any documents you need to send us. Company profile page for BBC Pension Scheme including stock price, company news, press releases, executives, board members, and contact information Please browse to the section of your choice. Mr Willis will receive: A lump sum cash payment of £26,400 (ie £8,800 x 3); and an annual pension of £8,000 (ie £12,000 x 2/3) for the rest of his life. What happens when you die There may be benefits payable after your death. The BBC pension scheme is widely recognised as among the best in the country. What happens when you die There may be benefits payable after your death. Our secure online site that allows you to see, update and amend your details. About 200,000 pensions may get top-ups averaging £13,500 after nearly two decades of shortfalls. BBC Pension Trust Ltd. (BBC Pension Scheme) is a Corporate Pension located in London United Kingdom, Europe. Read about our approach to external linking. Please enter your username and password below. Textphone: 0800 169 0254. We use cookies to ensure that we give you the best experience on our website and which are necessary to its functioning. The BBC must automatically enrol certain members of its workforce (including some freelancers) into a workplace pension arrangement and the BBC will need to make a contribution towards it. Pensions performance of the BBC pension scheme and other pension-related issues (Moderators: , Administrator, , ) Topics: 128 Posts: 360 Active Members Will be able to change details of your nominated dependant, view your latest pension values, run ‘What if’ calculations and see how much pension you can claim if you are approaching pension age. It also offers advice to consumers in England, Wales and Scotland through its Pension Service and Pension Guide websites (see links on right). Your pension is payable for life. BBC Pension Scheme 1 Scope This report is the actuarial valuation of the BBC Pension Scheme as at 1 April 2019 and I have prepared it for the Trustee and the BBC. The above information refers to the Old Benefits section. Mr Williams retires at age 60. The trustees have discretion over who receives the cash and in what proportion. Its board, commonly referred to as 'the Trustees', consists of 11 directors. The benefits are different depending on what type of member you are. His annual pension is £8,000. Your retirement pension is payable for life. Your qualifying spouse or nominated dependant will be entitled to half of your full pension. On your death, the following benefits may be payable: If you die within five years of your pension starting the trustees will make a lump sum payment, which is currently free of inheritance tax. Do you want to know how much you are likely to be left with? The government misled tens of thousands of workers over the security of their company pensions, according to a scathing official report. The above information refers to the Career Average Benefits section. John retires at age 60. Your qualifying children (up to a maximum of two) will each receive a pension equal to half of the dependant's pension. The financial statements have been prepared and audited in accordance with the regulations made under sections 41 (1) and 41 (6) of the Pensions Act 1995. login or register to access personal information regarding your BBC pension. BBC pensions are reviewed annually and any increases are awarded on 1 April. The above information refers to the New Benefits section. As noted in the Limitations section of this report, others may not rely on it. How the Scheme is run The BBC Pension Scheme (the Scheme) is a defined benefit scheme. The Pension Centre has put together a series of Zoom sessions to help members understand their pension options if they were to leave the BBC on redundancy. He commutes £3,200 for a lump sum of £32,000, leaving a reduced pension of £8,800. Continue Cancel By closing this banner, scrolling this page, clicking a link you agree to the use of cookies. If you haven't got a username and password, you can request one. The Financial Services Authority and the Association of British Insurers has devised an online calculator aimed at giving the public an idea of how much their pension is going to be worth in the future. If you wish to send a message to the Association about your membership or comment on any technical or editorial aspects of the web site, please complete and submit the form opposite, or simple email us at membership@bbcpa.org.uk, If you have any specific questions or problems in using this site please send us an email to webmaster@bbcpa.org.uk, Tel: 029 20322811 Email: myPension@bbc.co.uk. Following John's death, Jack will receive a pension of £4,000 for the rest of his life. By using this form you agree with the storage and handling of your data by the BBCPA website. BBC MY PENSION ONLINE. People living in Northern Ireland, should contact the Social Security Agency Northern Ireland (see link on right). Pontins has agreed to change its working practices after disclosure it had a list of Irish surnames it used to screen out bookings for its holiday parks from Gypsies and Travellers. Forgotten your memorable word? Lawrence Stroll, executive chairman of Aston Martin, tells the BBC he wants to build a firm with a "luxury profile". He nominates his father, Jack, as his dependant. © 2017 BBC Pensioners Association. If there is no qualifying spouse or nominated dependant, the trustees have discretion to award a pension to any person who was financially dependent on you at the date of your death or when your pension started. Prospero is a newspaper for BBC pensioners, it contains news about pensioners, former colleagues and developments at the BBC. Households were overcharged by a total of £7.2m when they should have been protected from price rises. The BC Pension Corporation is one of the largest pension benefit administrators in Canada, and the largest in British Columbia. BBC Pension and Benefits Centre Central Square Cardiff CF10 1FT Tel: 029 20322811 E: myPension@bbc.co.uk W: bbc.com/mypension/ When you die - Old Benefits (Joined before 30 September 1996). When you die - CAB (joined after 31/10/06). Occupational Pension Schemes (Disclosure of Information) Regulations 1996.