If you draw a Service Pension take note
The recent Forces Pension Society newsletter tells of an RPI/CPI e-petition which has been established hoping to reverse the Government's decision to link pension increases to CPI instead of RPI. The Government will debate e-petitions that achieve 100,000 signatures, so please can you pass on the following link to ex-servicemen that you know in the hope that they'll sign it, as it affects all of us. The link is:
https://submissions.epetitions.direc.../signature/new
Public & Private Pension Increases - change from RPI to CPI
Responsible department: Department for Work and Pensions
Many workers in the Public and Private Sector have contributed to their pensions on the understanding that on retirement these Pensions would be increased each April by the preceding September's Retail Price Index (RPI) rate. From April 2011 the Government has transferred these increases to the Consumer Price Index (CPI) measure which in the Treasury's own words "...is designed to take account of the fact that consumers tend to shop around, switching to cheaper alternatives when prices of similar goods change." This change, which has been introduced in most cases without any prior consultation, will mean a steady reduction in spending power for pensioners as they progress into their retirement. Given the promises that have previously been made, the RPI measure should be reintroduced without delay to ensure that the spending power of these Public and Private pensioners is maintained.
NB The change from RPI to CPI as a measure of general inflation was, of course, introduced to the UK by that well-known financial genius, Gordon Brown MP. His reason? Purely and simply to reduce government expenditure. While there isn't (and won't ever be) a single, universal and accurate measure of inflation, the CPI has consistently run at around 0.5 to 1.5% per annum less than the RPI. They look to be tiny figures, but CPI won't half reduce the real value of your pension, in double-quick time. Don't let Osborne get away with it! Sign up now, and forward to all your serving and ex-Service mates.
If you draw a Service Pension take note
The recent Forces Pension Society newsletter tells of an RPI/CPI e-petition which has been established hoping to reverse the Government's decision to link pension increases to CPI instead of RPI. The Government will debate e-petitions that achieve 100,000 signatures, so please can you pass on the following link to ex-servicemen that you know in the hope that they'll sign it, as it affects all of us. The link is:
https://submissions.epetitions.direc.../signature/new
Public & Private Pension Increases - change from RPI to CPI
Responsible department: Department for Work and Pensions
Many workers in the Public and Private Sector have contributed to their pensions on the understanding that on retirement these Pensions would be increased each April by the preceding September's Retail Price Index (RPI) rate. From April 2011 the Government has transferred these increases to the Consumer Price Index (CPI) measure which in the Treasury's own words "...is designed to take account of the fact that consumers tend to shop around, switching to cheaper alternatives when prices of similar goods change." This change, which has been introduced in most cases without any prior consultation, will mean a steady reduction in spending power for pensioners as they progress into their retirement. Given the promises that have previously been made, the RPI measure should be reintroduced without delay to ensure that the spending power of these Public and Private pensioners is maintained.
NB The change from RPI to CPI as a measure of general inflation was, of course, introduced to the UK by that well-known financial genius, Gordon Brown MP. His reason? Purely and simply to reduce government expenditure. While there isn't (and won't ever be) a single, universal and accurate measure of inflation, the CPI has consistently run at around 0.5 to 1.5% per annum less than the RPI. They look to be tiny figures, but CPI won't half reduce the real value of your pension, in double-quick time. Don't let Osborne get away with it! Sign up now, and forward to all your serving and ex-Service mates.
If you draw a Service Pension take note
The recent Forces Pension Society newsletter tells of an RPI/CPI e-petition which has been established hoping to reverse the Government's decision to link pension increases to CPI instead of RPI. The Government will debate e-petitions that achieve 100,000 signatures, so please can you pass on the following link to ex-servicemen that you know in the hope that they'll sign it, as it affects all of us. The link is:
https://submissions.epetitions.direc.../signature/new
Public & Private Pension Increases - change from RPI to CPI
Responsible department: Department for Work and Pensions
Many workers in the Public and Private Sector have contributed to their pensions on the understanding that on retirement these Pensions would be increased each April by the preceding September's Retail Price Index (RPI) rate. From April 2011 the Government has transferred these increases to the Consumer Price Index (CPI) measure which in the Treasury's own words "...is designed to take account of the fact that consumers tend to shop around, switching to cheaper alternatives when prices of similar goods change."
This change, which has been introduced in most cases without any prior consultation, will mean a steady reduction in spending power for pensioners as they progress into their retirement. Given the promises that have previously been made, the RPI measure should be reintroduced without delay to ensure that the spending power of these Public and Private pensioners is maintained.
NB The change from RPI to CPI as a measure of general inflation was, of course, introduced to the UK by that well-known financial genius, Gordon Brown MP. His reason? Purely and simply to reduce government expenditure.
While there isn't (and won't ever be) a single, universal and accurate measure of inflation, the CPI has consistently run at around 0.5 to 1.5% per annum less than the RPI. They look to be tiny figures, but CPI won't half reduce the real value of your pension, in double-quick time.
Don't let Osborne get away with it!
Sign up now, and forward to all your serving and ex-Service mates.