How the Other Half Live
The newspapers reported yesterday that the BBC's former deputy director general - Mark Byford - received a redundancy payment worth almost £950,000.
A leaked copy of the BBC's annual accounts - which will be published next month - apparently show that the Corporation more than £1.3 million - to make two senior executives redundant.
Now I'll eat my hat if the people involved are not back in gainful, well-paid employment very soon - if that hasn't happened already.
So why do such senior people - get paid such ridiculous sums of money to leave their jobs?
The reason is that the system is bonkers - completely skewed in favour of the most senior staff - right across the public sector not just at the BBC.
The practice of basing these payments on people's final salaries - means that it's like winning the lottery to be made redundant or retired early.
The foot soldiers at the bottom of the pile can only dream of such generosity - and of course it's a very poor deal for the taxpayer.
The second person to leave the BBC - as part of this generous deal - served less than two years as the £310,000-a-year director - of marketing, communications and audiences.
Nonetheless the official was still paid just under £390,000 - to leave the BBC last November.
Mr Byford's pension arrangements - would make most people's eyes water.
On top of his £950,000 pay-off - which may be tax free - Mr Byford is also set to enjoy a pension pot reckoned to be one of the largest in the public sector, at nearly £4 million.
The newspapers report that Mr Byford will be eligible to begin drawing his pension in 2013 - when he turns 55 - much earlier than most ordinary mortals, of course.
The former DDG's pension is estimated at £220,000 a year - though this sum will be reduced is he starts collecting it at age 55 - as opposed to age 60.
As they say - 'it's tough at the top'.
A leaked copy of the BBC's annual accounts - which will be published next month - apparently show that the Corporation more than £1.3 million - to make two senior executives redundant.
Now I'll eat my hat if the people involved are not back in gainful, well-paid employment very soon - if that hasn't happened already.
So why do such senior people - get paid such ridiculous sums of money to leave their jobs?
The reason is that the system is bonkers - completely skewed in favour of the most senior staff - right across the public sector not just at the BBC.
The practice of basing these payments on people's final salaries - means that it's like winning the lottery to be made redundant or retired early.
The foot soldiers at the bottom of the pile can only dream of such generosity - and of course it's a very poor deal for the taxpayer.
The second person to leave the BBC - as part of this generous deal - served less than two years as the £310,000-a-year director - of marketing, communications and audiences.
Nonetheless the official was still paid just under £390,000 - to leave the BBC last November.
Mr Byford's pension arrangements - would make most people's eyes water.
On top of his £950,000 pay-off - which may be tax free - Mr Byford is also set to enjoy a pension pot reckoned to be one of the largest in the public sector, at nearly £4 million.
The newspapers report that Mr Byford will be eligible to begin drawing his pension in 2013 - when he turns 55 - much earlier than most ordinary mortals, of course.
The former DDG's pension is estimated at £220,000 a year - though this sum will be reduced is he starts collecting it at age 55 - as opposed to age 60.
As they say - 'it's tough at the top'.
