Plan to change private pension inflation link

Discussion in 'Current Affairs, News and Analysis' started by johnboyzzz, Jul 8, 2010.

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  1. Not just the public servants to get lower pensions

    The government wants to change how some private sector pensions are calculated.
    Pensions minister Steve Webb said there were plans to link pension payments to the Consumer Prices Index (CPI) measure of inflation instead of using RPI.
    Accountants KPMG said this could reduce UK private sector pension liabilities by 10% or about £100bn.
    Millions of people in dormant and occupational schemes would be likely to see lower increases to their pensions in retirement, under the plans.

    BBC News - Plan to change private pension inflation link
  2. It would be quite an exceptional undertaking to make a law that retrospectively interfered with the private right of contract. They've clearly been learning from their predecessors and our Septic colleagues when it comes to "respect for the rule of law".

    On the other hand, given the huge burden of pension deficits, it's probably not a bad idea in purely economics terms ...
  3. Why is this Government getting involved with PRIVATE pensions
  4. It will be a payoff to the large private companies for supporting them