Pension schemes denied power to change rules on RPI/CPI

Pensions minister Steve Webb again confirmed the policy in response to a consultation on the impact of using the Consumer Prices Index (CPI) for private sector occupational schemes. He said: "We want people to have confidence and trust in their pensions. "We have set CPI as the statutory minimum, but many schemes can and will pay more, and we will not give schemes power to change their rules." He said the government many schemes now find their funding position is more secure as a result of the change to CPI. "This move in the long term will help make defined benefit schemes more...