Originally Posted by
VinRouge
AFPS 15 cost me and many in my generation over 1/3 of the original promise. And whilst we were unable to touch the pension and had to serve the remainder of the time on a scheme with a far lower accrual, it’s snake oil sales tactics to suggest we didn’t lose anything. That change cost my pension in the region of 100k, not accounting for CPI increases.
That is what the McCloud case is all about. There may well be some rebate of what you think you have lost. I suggest you follow the case with interest (it will take a couple of years!).
Professor Plum
This is what the recent valuation report stated on CPI in the report I linked to a few posts up from April 19:
” The SCAPE discount rate has been updated to reflect these changes and was reduced from 3.0% pa above CPI to 2.8% pa above CPI from April 2016 to April 2019 and was subsequently reduced to 2.4% pa above CPI. ”