Really average

There 's a slight hint of things unravelling at high level in the BBC over pensions. Apparently the official actuary for the BBC Pension Scheme, Alison Blay appeared at the extraordinary meeting of pension fund members at the Friend's House in Euston Road on Tuesday night, and was asked whether the BBC Executive had to act on the pension deficit as quickly as it says. Her answer "There is a 15 month window to complete the valuation [from March 2010] and I know of no formal reason why this has to be done before the valuation is finished. I know the BBC wants a neatly parcelled result, but I don’t think there is a requirement to act in that timescale." Alison is a partner at Watson Wyatt, part of the global Towers Watson Group.

Meanwhile, in a missive to staff, HR boss Lucy Adams and Finance chief Zarin Patel have hinted that their latest career average option might be run by new trustees, if the current lot object.   I suspect member-elected trustees Grant Cassidy and Rhodri Lewis will maintain their position of objection as expressed at Tuesday's meeting. Dan Cooke is a BECTU lay official and will follow suit.  From the BBC Trust, Jeremy Peat is still waiting for QC's opinion on the Exective's unilateral move away from linking pensions to "basic pay".  Other trustees, from the management side, are Helen Boaden and Andy Griffee.  Zarin Patel and Caroline Thomson (COO) are reportedly out of this discussion because of conflict of interest.  Geoff Jones is the Trustee elected by pensioners - until his retirement in 2001, he managed the pensions and benefits centre.   His could be the casting vote....