The government must amend existing pension legislation to ensure the majority of schemes are able to legally shift indexation from RPI to CPI, Aon says.
A survey from the consultant showed three out of five defined benefit schemes cannot simply switch because of strict scheme rules. The poll of 80 funds, showed 58% were required by their rules to increase...
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.
The Pensions Advisory Service (TPAS) helped 187,000 people in 2017/18, a 9% fall on the previous year despite setting up special helplines for specific scheme members.
The Liberal Democrat party has passed a motion pledging to cap tax-free lump sums under Freedom of Choice at £40,000 if elected into government.