This could have serious implications of those who have retired and those retiring in the future.
For starters, those who commuted the max on their pensions and will be expect to get a pension increase upon reaching 55 will now get a lot less, in the old days your monthly pension would have increased by possibly a third, not now I believe?
Anyone in a position to comment? Any AGC pers care to share what they know?
The change from RPI to CPI was an easy costcutter which I'm surprised the last lot didn't latch onto sooner. It hits me and I'll wait for the figures which are due out in 2 months to see if yet again the pension doesn't go up.
I'm still contributing to private pension with a growing sense of futility since it is clear the UK rip off on charges continues apace. I reckon the good times are well and truly over and our generation is the first to be picking up the pieces. Contribute more or work longer.