McCloud Remedy Interest Request
This seems to have snuck under the radar - the Treasury have written to the Govt Actuary for formal advice on interest rates. Of note is footnote 2:
The remedy will come into force for the majority of members on 1 October 2023, unless HM Treasury decides to bring it into force earlier for some members, in accordance with section 131(2) of the Act. However, in relation to those schemes subject to Chapter 1 of Part 1 of the Act (‘Chapter 1 schemes’), each member will be informed of their rights in relation to the remedy through their Remediable Service Statement (RSS) which will normally be issued within 18 months of that date. This is expected to be at some point in 2023-2025. HM Treasury consider that, from the date 28 days after their RSS has been issued, it is appropriate for the 8% simple rate to cease since the member will have had their position remedied in law and will have been informed of their rights.
Essentially, expect a solution sometime in 2023-2025 on an individual basis, and you will hopefully get 8% interest against all money owed for the majority of the time.
<Edit to add> also a key point is that it appears to be simple interest instead of compound interest.