Sloppy,
Sorry - no idea! Dynamising pensions is pretty normal - pensions are calculated by adding superannuable income and multiplying it by a factor. That Dynamising Factor (the DF) is then applied to each year’s earnings to take them up to a current value. For example, a factor for 1980 might be 5 (+). So someone with earnings of £20,000 in 1980 would equate to £100,000 (+) in today’s terms.
Patricia Hewitt got dragged over the coals by GPs a while back in respect of her buggering about with
their DF - I think I'm right in saying that the GP factor is currently CPI +1.5% per annum. But what FPS has been doing recently is something I'm not familiar with at all, sorry. Having said that, it knows the scheme inside out so I'm sure they're lobbying with guile and insight!
FPS - £16 pa - bargain.
