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The Actuary The magazine of the Institute & Faculty of Actuaries

Radio silence over pensions

Radios and televisions were absent from the usual round of political comment in early November, as BBC staff supported a National Union of Journalists strike called on the issue of pensions. More accustomed as we are to these actions in France than in the UK, this one seemed from the interruption of programmes to be well supported.

It revolves around replacing final salary benefits with a choice of career average or defined contribution benefits. A number of other unions have achieved approval to the proposals in workforce ballots, leaving the NUJ now on its own in the protest. Is this a sign of division to come as other pension changes are proposed in areas of the government-controlled public sector?