RPI

As many as 200 pensioners will gather at Parliament today to protest the government's plan to switch to the Consumer Prices Index for pensions increases.

Ford workers are threatening a national strike over plans to uprate future payments for Ford Pension Fund members by the Consumer Prices Index.

Occupational scheme member groups have attacked the switch to Consumer Prices Index inflation as a Treasury cost-saving exercise aimed at benefitting business over members.

The ‘small print lottery' over RPI/CPI usage in company pension schemes means some pensioners will see their income reduced by 20% over 20 years, KPMG says.

MPs have been urged to vote down government plans which would reduce the value of pensions year on year in a crucial House of Commons vote today.

Members of Prudential's defined benefit scheme had their challenge over the legality of discretionary benefit increases heard in the High Court over the past few weeks.

Switching to consumer price index for pension inflation will improve defined benefit scheme funding levels by £83bn - but reduce the value of members' pensions, the government says.

Scheme managers are split over whether the government should have given pension funds the power to override scheme rules enabling a shift from RPI to CPI indexation where it is not already allowed.

Global inflation will erode defined benefit deficits substantially but savers will have to accept they will be far worse off, Lindsay Tomlinson warns.

Labour MPs have accused the coalition government of 'short changing' the armed forces by indexing their pensions to CPI rather than RPI.