As for me I will be challenging through the courts these Con/Lib cowboys about their INTENDED plan to switch from RPI to CPI.

I believe I signed up and contributed for 20 odd years to a Pension Scheme that CLEARLY STATED that my annual rise was linked to RPI and NOT CPI.

I have not seen, nor been made aware that any new law or laws have been passed to implement this new change?
I suspect I am on a “hiding” to nothing as most of the Public are either not aware of the INTENDED implications, or just don’t care.

What are the Trade Unions doing about this issue, nothing I suspect, just driving around pro-porting to be acting on my behalf ina big fast car?

Johnny two jags come to mind with anyone?

This will apply to current pensioners.

In future your pension will go up in line with CPI, not RPI.

It will not be retrospectively applied to previous pension increases. The pension you receive now will be upgraded in future by CPI.

I am currently aged 61 and have been receiving my NHS Pension since 2004.
No one appears to be asking the “people” ie This Con/Lib cowboy outfit the most obvious and important question of all which as mentioned in this post is simply whether or not the “proposed” change is retrospective or are current recipients protected?

Regards

Dave McClements

Great post Paul. I think you’re definitely on to something here….

“Your pension is increased by the same percentage as SERPS (now “Additional State Pension”). This is based on the rise in retail prices”.

Although the booklet also states it is not a full statement of the law governing the NHS scheme it seems pretty clear to me that I was promised a link to RPI !!! I kept my side of the bargain and much more in terms of the commitment I made to the NHS. So much for the payback.

However I would not be surprised if other schemes attempt to follow suit in both the private and public sector if their rules allow them to do so. There is still some doubt about the legality of such moves, even if it clear that in moral terms this is an attack on the accrued benefits that you thought you had saved for.

Coincidentally a journalist rang just after your comment and we’ve said this:

“Linking increases in current public service pensions to CPI rather than RPI in future comes as a bolt from the blue.

While current public sector staff are braced for attacks on the pensions they build up in future, ministers have said that they would protect accrued benefits.

The link to RPI is a benefit that pensioners have already paid for – the definition of an accrued benefit. A link to CPI will slice a bit off their pension most years.

And as most public service pensions are less than about £5,000 a year, this will hit many pensioners with low to modest incomes.”