Every three years occupational pension schemes must, by law, carry out a full actuarial valuation. This gives a snapshot of the cost of providing benefits to be paid to members (the liabilities) and how that compares with the value of the assets. Some schemes, including the BBC Pension Scheme, also choose to carry out an interim valuation for each intervening year.
The Trustees of the BBC Pension Scheme recently published the results of the 2019 full actuarial valuation, the 2020 interim valuation and the Scheme accounts as at 31 March 2020.
