Sunday, September 04, 2011

e-petition against the change from RPI to CPI

Click on this link here to sign the petition calling for a Parliamentary debate on this change which will reduce the value of your pension by around 15%!  There needs to be 100,000 signatures.  So far (4 Sept)  there are 35,000.

"Many workers in the Public and Private Sector have contributed to their pensions on the understanding that on retirement these Pensions would be increased each April by the preceding September's Retail Price Index (RPI) rate. From April 2011 the Government has transferred these increases to the Consumer Price Index (CPI) measure which in the Treasury's own words "...is designed to take account of the fact that consumers tend to shop around, switching to cheaper alternatives when prices of similar goods change." 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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