Final Straw

As I write, I think I'm correct in saying that trade unions in the UK are still fighting - and striking - in defence of 'final salary' pension schemes.

But the final straw in this debate - the one that may well have broken the camel's back as far as public opinion is concerned - is the departure of the BBC director general - George Entwistle.

Now George agreed to walk the plank in return for a year's pay of £450,000 - plus his pension pot of £870,000 - a controversial issue all on its own.

Because contractually speaking George was only entitled to six months pay for rsigning his post voluntarily - but 'what the hey' it's only licence payers' money - and who is going to make a big fuss about £225,000 between friends.

Yet the big scandal is that having been in the job for less than two months - George's pension pension benefits will have been calculated using his final salary of £450,000.

Which explains why the principle of using a 'career average' pension scheme is a much fairer way of dealing with these issues - because people get back out what they've actually paid into their pension over the years.

Instead of landing a big windfall payment - having been in the job only for a very short period of time.

And of course the people paying for this arrangement are the BBC licence payers - and lower paid staff within the Beeb who are subsidising the pension arrangements of the BBC's most highly paid executives.