BT Pension Index Linking

paul.n_2

So how come CPI now applies to people who retired pre-1996 when cpi was introduced, if before that it was RPI only.
People quite justifiably assumed that as RPI included mortgages they would be able continue a mortgage in retirement, that now obviously is NOT the case.
Appears to be opportunist and fraudulent decision by BT as far as I can see.

Of course Hermes which is almost wholly owned by BT must be rubbing its hands with glee, their sad performance over the years doesn't look so bad. (I probably did better day-trading from home than Hermes ever has).
Though they have managed to profit from the recession by buying heavily into hedge funds, which were the main cause of the banks going bust and the recession in the first place.

NFOP and CWU don't appear to have a clue CWU is only concentrating on current working members as is usual.

And BT, with it's massive pensions holidays boosting dividends to shareholders is the main culprit - what a disgrace.

paul.n_2

StevieJ wrote: »

How long before the govt deem it time to discontinue the RPI index?

Just before the BOE increases interest rates and mortgage rates head north.
A couple of the banks tried it already when they thought it was going to happen a couple of months ago.

Scum is really too kind a word for this lot.

Ripoff_2

paul.n wrote: »

Just before the BOE increases interest rates and mortgage rates head north.
A couple of the banks tried it already when they thought it was going to happen a couple of months ago.

Scum is really too kind a word for this lot.

Paul.n, have you seen the post RPI to CPI early day motion 1032, if not then please take a look. We need to fight this at source, the Government, not BT, they are just doing what BT has always done, stuff the staff and protect the shareholders. Vent your anger at the Government, it is they who are bringing in this change. BT could do the right thing, they could make this fair but a company like BT doesn't care about you or I or customers only profit and the shareholders they will not change this unless the Government changes position.

paul.n_2

ripoff, thanks for the info.

I know a bit about EDM's and I certainly wish you the best of luck.

My experience is that you will be walking through porridge for the next 5-10years - if you persist.

You may get a few MP's on your side but the majority will always side with the whips. You may even waste money on joint legal action, there are plenty of dodgy lawyers out there, who will say you have a case.
Checkout afpg.info website, see how it all starts and what you end up with - nothing.
Government ministers don't have to take a blind bit of notice, they will stall and obfuscate with silly repetetive replies, if anything.

BT undestands only one thing Money, or lack of it.
BT have or had, a choice, and indecently chose to jump on the CPI bandwagon.
I for one will make sure that they, not I, lose out at least in the short term.
Currently they get £600 or so a year back from my measley pension in their exhorbitant charges, that will cease as soon as my contract ends.
I hope many others will see this the same way, perhaps the shareholders will see sense even if BT remain obstinate.
Of course they will deny that withdrawal of pensioner income will make any difference.

Reality will bite in the end.

Interested_Taxpayer

paul.n wrote: »

ripoff, thanks for the info.

I know a bit about EDM's and I certainly wish you the best of luck.

My experience is that you will be walking through porridge for the next 5-10years - if you persist.

Not true paul.n. You should listen to Ripoff. You need to side with the entire Public Sector on this and the battle has only just begun. Together we can and will make a difference here.
Bt will listen if the Government turns on this issue. Millions of pensioners are and will be affected by this wrong. We all have a duty to put it right.
Please get involved with the RPI to CPI Early Day Motion Post.

paul.n_2

I've read all the EDM posts, and Ripoff certainly knows his stuff.
He deserves plenty of support.

But look at the figures, not one Tory MP will rebel, even though they know its a deliberate con.
One of them even had the gaul to say it was a wise move for pensioners to CPI, now either he's plain stupid or he thinks everyone else is.
Personally having had dealings with previous Tory MP's I'd say its the latter.
My own MP manages to double her annual MPs salary with retainers by doing absolutely nothing, and admits it, I'm pretty sure she's been approached but she certainly hasn't signed.

That's what your'e up against, these people aren't even on the same planet.

I will send her an e-mail:j, though I expect a standard reply touting the govt line, which is exactly what happened last time.

Ripoff_2

Paul N, I can feel your anger and I am as angry as you about this, BT's stance is obscene, but I didn't expect any form of loyality from BT, but neither did I expect the Government of the day to rob and betray you or I either. To cheat and steal from us.

People power is what is needed here and the EDM is a means of letting the MP's know we are there and we have noticed this CON TRICK.

We must stand together, public and private pensioners and voice our opposition loud and clear. Let them know that we will not be treated in this appalling manor. Please join the fight and help get the message out there, we need more fighters like you who feel so betrayed and cheated by this change.

You, me and everyone affected by this change has a right to be angry, very angry, they have no mandate for this so lets use that anger to fight them. Together we stand a chance, because "We are all in this together"

Ripoff

paul.n_2

Ripoff, dont worry I'm fighting wherever I can.

It's Sad that the CSPA website is the only one mounting any effective defence of pensioners rights.

The CWU and N.F.O.P who are supposed to represent us are a total waste of time, and that's quite a surprise because what other reason would anyone have for joing them but for a situation such as this.

Interested_Taxpayer

paul.n wrote: »

Ripoff, dont worry I'm fighting wherever I can.

/QUOTE]

Nice input in the Guardian paul.n. Great to have you with us.

RedTed

NFOP had to be dragged kicking and screaming into this whole affair and only did so after many complaints via post, phone and email from furious members like myself. Their attitude and that of the CWU and the Trustees makes me wonder what has been agreed behind closed doors. If this is the response of those who are supposed to be protecting the pension scheme and it's members then God help us.
The whole thing stinks to high heaven.