The Co-operative Bank is set to continue de-risking pension schemes after it mitigated further losses by switching from the retail prices index (RPI) to the consumer prices index (CPI).
A number of pension issues will be battled out in the courts over the course of this year. James Phillips rounds up the cases to watch out for and the potential consequences for the industry
Sterling fell in mid-morning trading on the announcement that UK inflation unexpectedly fell to 2.6% over the 12 months to June 2017, down from 2.9% in May.
There could be a case to suspend indexation for schemes which are underfunded and where sponsors are in stress, the government has said.
The Consumer Price Index (CPI) rose to 1.6% in December on the back of falls in sterling following the Brexit vote, its highest level in two years.
Richard Harrington has said he has no objection to giving trustees the right to change indexation in rare cases, as long as members are protected against higher living costs.
Member-nominated trustees (MNTs) of the Airways Pension Scheme (APS) became more flexible and mature as time progressed, a fellow trustee has called.