Times Online – Investment returns have been diabolical. Share values collapsed last year by 30 per cent. Commercial property — office blocks and shops — slumped in value. Hedge funds, in which the BBC fund has been dabbling, proved far from damage-proof.
Liabilities have been rocketing because of soaring life expectancy. Bluntly, former BBC personnel have not been dying as early as the fund’s actuaries predicted that they would.