landedoutagain
it's wrong because it makes a mockery of the phrase ' defined benefit '. And, as you correctly point out, I would be even better off because I had stopped contributing. So a double whammy for you. Still think thats fair?!
Well you would have been contributing to the scheme at a time when every penny counted, rather than late in life when you probably have spare cash..
BUT I don't think pensions are ever fair - see my post about late promotions under the current scheme!
I don't know whether you've read the conditions of the current scheme for times of falling RPI. Someone retiring last year whose pension has been indexed up can have it indexed down (at least as far as its original level). Someone retiring this year whose pension is based on a final salary indexed up by RPI can't have their pension indexed down below the higher level awarded this year. Is this fair?
I can find lots of anomalies in the current scheme (but I am not an advocate of DC schemes, they just seem to be inevitable - the view of one of my daughter's friends who is a trainee actuary).