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.
Speaking at the annual Eversheds pensions conference this morning Webb defended his decision to change indexation after criticism from delegates. He also insisted the legislative change is not retrospective...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter