RPI

With the change from RPI to CPI indexation, Graeme Troy takes a look at what this means for pensions

The switch from RPI to CPI for pensions indexation will give members a lower outcome over the long term but gives better consistency, Steve Webb says.

A group of 13 opposition MPs have called on the government to delay switching to the CPI index for public sector pensions until further research has been conducted into pensioner spending.

A consultation on legislation overriding the rules linking pension increases to RPI will go ahead, pensions minister Steve Webb revealed at the TUC Member Trustee Network annual conference.

Age UK is calling for more tailored products and services for the elderly, as they are much harder hit by the cost of inflation than the rest of the population.

The majority of people in the UK do not know what the impact of the switch from linking defined benefit (DB) pension schemes from RPI to CPI, Aon Hewitt says.

The government will today switch the inflation benchmark for pensions and benefits from RPI to CPI, potentially shaving millions off investors' savings.

Inflation was unchanged at 3.1% in August, according to the Office for National Statistics (ONS).

Leading UK statisticians are questioning government plans to link the state pension and other key benefits to the consumer prices index (CPI).

The recent consultation on ending compulsory annuitisation promises to usher in increased flexibility. However, Mike Morrison warns of potential issues.