Guarantees given in Civil Service Pensions member communications to link benefits to the Retail Prices Index were the result of bad drafting, the government admits.
The explanatory literature for the CSP Classic scheme stated members would receive an “index linked income” on retirement, explaining this meant benefits were “guaranteed to increase in line with inflation,...
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
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.