All Retail Price Index (RPI) articles – Page 4
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News
Plans to downgrade RPI could cost members £30,000
Data crunch:Pensioners could miss out on an additional 6.7 per cent in retirement income if the government goes ahead with plans to downgrade the retail price index, an analysis has revealed.
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NewsBritvic reaches interim agreement on CPI/RPI linking
Soft drinks manufacturer Britvic has reached an interim agreement with the trustees of its defined benefit pension scheme over controversial plans to switch pension increases based on the retail prices index to the lower consumer prices index.
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News
Government signals an end to flawed RPI
On the go: The end may be nigh for the flawed retail price index of inflation, after the chancellor announced plans to consult on whether to align it with a version of the consumer price index between 2025 and 2030.
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NewsBritvic seeks court approval for RPI/CPI switch
Soft drinks manufacturer Britvic is the latest business to attempt to switch the basis for its defined benefit pension increases from the retail price index to the consumer price index, with other companies reputedly queuing up to take legal advice on this very point.
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News
ONS miscalculates RPI for March and June
On the go: The Office for National Statistics has made an error in the retail prices index, leaving the figures for March and June this year 0.1 percentage points adrift. The possible impact of the mistake on the stock market led to the ONS publishing a statement outside of trading hours late on Thursday.
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News
Looming Brexit sees slowdown in LDI derisking trend
On the go: Interest rate and inflation hedging activity by UK pension schemes saw a dramatic slump in the second quarter of 2019, although experts said this was more likely due to Brexit "frontloading" than a sustained slowdown.
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News
British Airways agrees settlement with APS
British Airways has finally agreed an out of court settlement with the trustees of the Airways Pensions Scheme.
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News
Spring Statement: Government responds to RPI flaws
On the go: The government is still considering whether to take action on problems with the retail price index, it was announced after the Spring Statement yesterday.
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News
Relief for pension schemes as CPI falls to 1.8 per cent
On the go: UK pension schemes will get a small measure of comfort from the current inflation figure, with the consumer price index falling for the third month in a row to 1.8 per cent in January, the lowest level since January 2017.
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NewsBT section must stick to RPI, Court of Appeal says
BT has lost an appeal seeking to allow it to downgrade the inflation protection given to some of its defined benefit members.
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PodcastsPodcast: What can we learn from the Barnardo's outcome?
Podcast: Earlier this month, the Supreme Court ruled that Barnardo’s cannot change the inflation protection it provides to members of its defined benefit scheme from the retail price index to the consumer price index. So, what does the result mean for other DB pension funds and their sponsors? Matthew de Ferrars, pensions partner at law firm Pinsent Masons, and Faye Jarvis, pensions partner at law firm Hogan Lovells, discuss what trustees can learn from the recent Barnardo’s outcome.
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News
Barnardo's scheme loses Supreme Court RPI appeal
On the go: Children's charity Barnardo's may not change the inflation protection it provides to members of its defined benefit scheme, the Supreme Court has ruled.
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NewsSupreme Court: Barnardo's wording does not allow RPI/CPI switch
The Supreme Court’s rejection of an attempt by Barnardo’s to downgrade its pension increases is a reminder that courts are unlikely to bend rules to accommodate the commercial needs of defined benefit sponsors, according to legal experts.
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News
Schemes shift attention from interest rates to inflation hedging
On the go: Inflation hedging has seen a sharp rise with activity up by 22 per cent in the third quarter of 2018, to around £24.2bn. Total interest rate hedging activity was around £29.2bn in the third quarter, a 1 per cent fall according to the BMO Global Asset Management.
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News
BA wins appeal over discretionary increase
The trustees of the Airways Pension Scheme went beyond their remit in granting a 0.2 per cent discretionary increase to members’ pensions in 2013, the Court of Appeal has ruled.
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OpinionWhat to consider before agreeing a switch to CPI
The appropriateness of the retail price index has been increasingly challenged in recent years, according to Hymans Robertson’s Alistair Russell-Smith, but around three quarters of the UK’s 6,000 defined benefit schemes still link their annual pension increases to RPI.
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NewsLeonardo Helicopters extends Pie and switches to CPI
Leonardo Helicopters has decided to keep its scheme open to accrual but plans to extend a pension increase exchange while tweaking the inflation measure for future benefit build-up.
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News
High Court rules against statutory limit for overpayment recovery
The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.
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FeaturesGo-Ahead pension scheme moves from RPI to CPI
Transport operator Go-Ahead has cut its pension liabilities by about £40m by changing the inflation measure used for its bus workers’ final salary scheme.
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NewsUniversity of Oxford learns hard lesson with Care closure
The University of Oxford has introduced a defined contribution scheme for new joiners and is making a number of other changes to reduce costs as universities are waking up to their pension deficits. One expert called the education sector ‘a disaster’ in pension terms.