All Consumer Prices Index (CPI) articles – Page 4
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News
RPI reform consultation to be published in March
On the go: A consultation on changes to the retail price index will be published alongside the UK Budget on March 11, the chancellor of the exchequer has announced.
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OpinionRisks and opportunities coming from RPI reform
On September 4 2019, it was confirmed that the UK Statistics Authority intends to reform the retail price index inflation measure so that it essentially becomes a variant of the consumer price index including housing costs, called CPIH, from 2030 at the latest.
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News
Trustees vindicated in RPI/CPI switch complaint
The Pensions Ombudsman sided with pension scheme trustees in two separate cases over the decision to switch their inflation measure away from the retail price index.
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News
Court approves BA trustees' pension increase settlement
On the go: Trustees of British Airways’ defined benefit schemes have had a settlement allowing them to pay discretionary increases approved by the High Court.
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News
Scheme goes to court to avoid £10m rules drafting mistake
An orthotics and prosthetics manufacturer has been forced to go to court to amend a word in pension scheme rules drafted 20 years ago, which if left unchanged would have cost the plan £10m.
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News
RPI changes could hit pensions funding by up to 10 per cent
On the go: Reforms to the calculation of the retail price index could have a massive impact on pension funding, LCP reveals in a new report.
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News
LTA to increase to £1.075m next year while pensioners get bumper rise
On the go: The latest data from the Office for National Statistics shows the consumer price index of inflation grew by 1.7 per cent in September 2019, with impacts on the state pension and the lifetime allowance.
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News
Union fights government plans to scrap RPI
On the go: Unite, Britain’s biggest trade union, has refused to use the consumer price index as a measure of inflation in workforce negotiations, in response to the government’s mooted plans to scrap the retail price index in its current incarnation by 2030.
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OpinionAmid Brexit chaos, RPI end could rock pensions
Editorial: Welcome to the September issue of Pensions Expert, one which comes amid untold levels of turmoil in the world around us.
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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.