Pension Indexation Last Ten Years
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Pension Indexation Last Ten Years
Could anybody out there help me by posting a link to a table showing the relevant RPI/CPI indexation that has been applied to Armed Forces Pensions over approximately the last ten years?
TVM TOFO
TVM TOFO
RPI / CPI - Historical Data
RPI / CPI historical data can be found here. As you probably know, the year on year figure in September each year determines the pension increase payable from the following April.
Retail Prices Index and Consumer Price Index
Retail Prices Index and Consumer Price Index
TOFO
This goes back 9 years for RPI and CPI Retail Prices Index and Consumer Price Index
The figure you need is the RPI until 2010 and the CPI for 2011 onwards. Here they are (R=RPI and C=CPI):
2003 2.8R 1.4C
2004 3.1R 1.1C
2005 2.7R 2.5C
2006 3.6R 2.4C
2007 3.9R 1.8C
2008 5.0R 5.2C (CPI greater than RPI)
2009 -1.4R 1.1C (CPI greater than RPI and AFPS would use 0% if growth is negative (Finance Act 2004 states that a pension cannot reduce))
2010 4.6R 3.1C
2011 5.6R 5.2C
So since 2003, the increases are 2.8%, 3.1%, 2.7%, 3.6%, 3.9%, 5.0%, 0%, 4.6% and 5.2%. The RPI for 2000 was 3.3%, 2001 was 1.7% and 2002 was 1.7% from another source.
I hope this helps?
iRaven
This goes back 9 years for RPI and CPI Retail Prices Index and Consumer Price Index
The figure you need is the RPI until 2010 and the CPI for 2011 onwards. Here they are (R=RPI and C=CPI):
2003 2.8R 1.4C
2004 3.1R 1.1C
2005 2.7R 2.5C
2006 3.6R 2.4C
2007 3.9R 1.8C
2008 5.0R 5.2C (CPI greater than RPI)
2009 -1.4R 1.1C (CPI greater than RPI and AFPS would use 0% if growth is negative (Finance Act 2004 states that a pension cannot reduce))
2010 4.6R 3.1C
2011 5.6R 5.2C
So since 2003, the increases are 2.8%, 3.1%, 2.7%, 3.6%, 3.9%, 5.0%, 0%, 4.6% and 5.2%. The RPI for 2000 was 3.3%, 2001 was 1.7% and 2002 was 1.7% from another source.
I hope this helps?
iRaven
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Just to be precise...
Is the increase in 2011 not 3.1%?
The way I am interpreting that would be that the April 2011 increase is a CPI based increase and therefore uses the CPI figure from September 2010 (as opposed to the RPI figure from September 2010). Anybody got the defintive on that one?
Is the increase in 2011 not 3.1%?
The way I am interpreting that would be that the April 2011 increase is a CPI based increase and therefore uses the CPI figure from September 2010 (as opposed to the RPI figure from September 2010). Anybody got the defintive on that one?
