The firm BBC has announced its plans to overhaul the pension scheme in order to tackle with the 2 billion Euros deficit. These plans include the closing of final salary scheme to the fresh joiners and imposing a cap on the amount of pensions of the existing employees can grow by 1% per year.

The government has already ordered a review of the pension of the public sectors.

Adding to that, the British Prime Minister David Cameron has said to the public sector workers that they should expect less pension amount as the country needs to repair its financial conditions.

The firm BBC has also agreed to the changes with the pension plans to tackle with the increasing deficit in the pension scheme, which is now 2 billion Euros as compared to 470 million Euros in just couple of years ago.

The chief financial officer of BBC, Mr. Zarin Patel has said that BBC is not the only firm struggling with the pension scheme, both the private and public sectors are facing the same problem over the pension cuts.