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UK Government

Changes to pension calculation to be discussed in Government following online petition

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By The Drum Team, Editorial

December 29, 2011 | 1 min read

Calls to reverse changes to the way annual pension increases are calculated could be debated in the House of Commons after an online petition gained 100,000 signatures.

Since earlier this year, rises in the state and public sector pensions have been based on the CPI measure of inflation, instead of the RPI.

The Government has said it is committed to a "triple lock" policy, guaranteeing that state pensions will be increased each year by whichever is highest out of average earnings growth, inflation or 2.5%.

By passing the 100,000-signature mark, the motion on the Government's official e-petitions website calling for a return to the RPI measure now qualifies for debate in Government.

The petition states: "This change, which has been introduced in most cases without any prior consultation, will mean a steady reduction in spending power for pensioners as they progress into their retirement.

"Given the promises that have previously been made, the RPI measure should be reintroduced without delay to ensure that the spending power of these public and private pensioners is maintained."

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