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FAS - Pre 2009 Inflation Increases?
westv
Posts: 6,593 Forumite
With today's news that CPI is now 2.9%, I was just wondering when the FAS increases are calculated for pensions not yet in payment.
I know that pre 2009 service has increases limited to 5% but is that CPI or RPI?
I know that pre 2009 service has increases limited to 5% but is that CPI or RPI?
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Comments
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http://www.pensionprotectionfund.org.uk/FAS/howfasworks/Pages/HowFASworks.aspx
I would imagine that in common with other pensions and benefits, revaluation would be based on changes in the CPI in the 12-month period to 30 September.0 -
For pensions not yet in payment, any increases are capped at 5% under FAS (currently CPI for previous May). After retirement it's the lower of CPI and 2.5%, again CPI for previous May.0
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So a 3% increase this year then?0
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Yes. I hope all the people who made such a drama about wanting 2.5% before the general election do the decent thing and donate the extra .5% to charity.So a 3% increase this year then? Posted by westv0
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