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Benefits of being Registered

As across this whole website, some articles are only available to registered users, if you are member of the union register if not apply to join and then register - you know it makes sense.

*** News Flash ****

This site is being updated. However because of the immense amount of material on the site it is taking me some time. When the new site is populated this site will be closed and the updated site will be launched. In the meantime new information is only being added to the new site . You can see how the updated site is coming along here.

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The Issue

In November 2010 the Government decided to erode the value of our pensions. Pensions to which we have contributed over a life time of work on the promise of RPI increases on retirement. The government lowered the floor on increases and BT siezed on the opportunity to take £2.9 Billion pounds from the pension fund to give to shareholders.

The National Federation Of Pensioners is doing some great work on providing information. If you are not  a member you should consider joining. http://nfop.org.uk/ its campaigning on the issues is interesting.

March 2011 RPI vs CPI briefing

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 Government Proposal and Commitments
Prior to the General Election, May 2010

The 2010 Emergency Budget announced that the Government will use the Consumer Price Index (CPI) instead of the Retail Price Index (RPI) for indexation of benefits and pensions from April 2011. Some private sector companies, including BT, have announced that any future pension increases will use CPI rather that RPI. This will apply to BTPS members on Section A&B terms; because of the slight difference in wording, RPI will continue to apply to Section C pensions in payment.  Deferred Section C pensions will only be up-rated at CPI until they become payable when they will be indexed at RPI.

2010 Emergency Budget - Change from RPI to CPI

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Change to the Index linking of Your Pension

What will it cost you?

Who will benefit from it?

What did they say before the election?

What can you do?

The 2010 Emergency Budget announced that the Government will use the Consumer Price Index (CPI) instead of the Retail Price Index (RPI) for indexation of benefits and pensions from April 2011. Some private sector companies, including BT, have announced that any future pension increases will use CPI rather than RPI. This will apply to BTPS members on Section A&B terms; because of the slight difference in wording, legal opinion is being sought regarding members on Section C terms. The position of deferred pensioners is unclear