In the Chancellor’s recent Spending Review, millions face cut in value of workplace pensions
Many of those with defined benefit workplace pensions usually see their pension payments increase each year in line with the rising cost of living.
The way this annual rise is calculated is expected to become less generous from February 2030.
This news item prompted a question from one of our followers
At the moment most, if not all, Public Sector Pensions (Armed Forces, NHS, Civil Service, to name but a few) are indexed linked to the September Consumer Price Index (CPI). So how will this newer measure affect the Armed Forces Pension
The answer to this is the recent change in RPI to CPIH should not impact AFPS pensions. All public service pensions have been linked to the Consumer Price Index (CPI) – and not CPIH – since 2011.