BBC Announces Changes to Workers' Pension Plan

In an attempt to tackle a reported deficit of £2Bn, the BBC has announced "the first major changes by a publicly-funded organisation" to their pension scheme.

The BBC say their proposals include closing the final-salary scheme to new members and restricting pension payouts to 1% per year. They also include an option whereby existing members of the scheme can continue with the revised final salary plan, or switch to a defined contribution scheme.

The proposals are subject to a consultation period, concluding in the autumn.