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,...
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point