Thursday, 24 March 2011

Pensions rip off

The Pensions Increase Order has been laid before the UK Parliament. This confirms that public service pensions will increase by 3.1%, in line with the Consumer Price Index (CPI), as at last September.

If the increase had been in line with the Retail Price Increase (RPI), as it has traditionally been, pensioners would have had an increase of 4.6%.

At a stroke of the pen the UK Government has just robbed public service pensioners of 1.5% of their pension at a time when real inflation is over 5%, VAT going up etc.

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