Steve Webb

The government has calculated the move from RPI to CPI indexation for occupational schemes could reduce the value of pension rights by as much as £76.6bn over 15 years.

Steve Webb has said the government will not give private sector schemes the power to override scheme rules to shift from RPI to CPI indexation.

The Pensions Regulator should be more accountable and promote high-quality workplace pensions, trustees and scheme managers believe.

UK - An industry-wide consultation on the RPI to CPI switch will be issued tomorrow, Steve Webb says.

An industry-wide consultation on the RPI to CPI switch will be issued tomorrow, Steve Webb says.

The UK private pension system is "not fit for purpose" and "hugely inefficient", research by the Royal Society for the encouragement of Arts, Manufactures and Commerce finds.

UK - There is a "real danger" the auto-enrolment regime could be so broad it becomes an unenforceable law, Alan Pickering warns.

More than 10 million people will see their state second pension hit by the Consumer Price Index switch by the end of this parliament, the government says.

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.

The government's decision to switch pension indexation to the Consumer Prices Index is "policy on the hoof", the Labour pensions spokeswoman says.