RPI

Trustees and scheme sponsors should avoid significant pension actions until proposed changes to RPI inflation methodology become clearer, Lane Clark & Peacock says.

The Treasury will soon consult on moving the calculations behind RPI to match another index. James Phillips looks at the proposal and its potential impact on pension schemes.

BT will not be able to swap the index used to uprate part of its pension scheme after the Supreme Court denied permission to appeal, closing all legal avenues.

De La Rue's defined benefit (DB) pension scheme gained £80.5m after swapping the index used to revalue benefits, but lost £0.5m to rectify discrepancies identified in the scheme's rules.

Philip Hammond's Spring Statement was empty of any direct pension news as the Treasury sought to avoid major policy announcements.

The Interserve Pension Scheme has recognised a £70.6m reduction in liabilities after swapping the index used to uprate benefits.

The UK Statistics Authority's (UKSA) "refusal" to fix a long-standing error in the retail prices index (RPI) is "untenable" and demonstrates a need to commit to one measure of inflation.

BT has lost a Court of Appeal attempt to swap one section of its defined benefit (DB) pension schemes from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).

The Barnardo's pension scheme has been denied permission to switch the inflationary index it uses for uprating pension benefits in a unanimous judgment from the Supreme Court.

The government will gradually adopt a version of the Consumer Prices Index (CPI) which incorporates housing costs for pension funds and index-linked gilts, it confirmed today.