rpi to cpi

northernstar007

hi all i hope someone can help me
the co i used to work for i  was in a db pension, the co closed it and also no further payments allowed in from 2013, moving onto 2018 it was agreed with the co to change from rpi to cpi due to costs, then suddenly the admins for the pension with trustees agreement have backdated the cpi change to 2011, can they do this without agreement from us members
any help guys ?

NottinghamKnight

You would expect the trustees to protect members interests but it's unusual to apply any changes retrospectively. Have you had any justification or raised a query/ complaint? Are you a member of a union or employee group who could represent you?

xylophone

When the pension scheme was closed to contributions, members of the scheme became deferred pensioners (as though they were  "early leavers").

moving onto 2018 it was agreed with the co to change from rpi to cpi due to costs, then suddenly the admins for the pension with trustees agreement have backdated the cpi change to 2011, can they do this without agreement from us members

See https://www.pensionsadvisoryservice.org.uk/content/spotlights-files/uploads/RPI_to_CPI_SPOT011_V1.2.pdf

There was a consultation and it  would seem that this has enabled the change to revaluation from 

2011 onwards - see link above.

northernstar007

thanks for the reply both of you`s  i will try and ans everthing i know so far, i no longer work for that co so i`m only hearing whats going on inside through the grapevine, union is involved and other staff around the country not happy inc head of hr (have they got there own?) 
i have emailed the pension admin and advised them that my next port of call is the pension reg, they have not got back in  2 weeks now, will i win? 
as for the link ive had a cpl tonight so i cant make heads or tails of it, can anyone tell me what it means in english 

Thrugelmir

northernstar007 said:

i have emailed the pension admin and advised them that my next port of call is the pension reg, they have not got back in  2 weeks now, will i win? 

What do the scheme rules actually say on the matter of index linking?   You need grounds for complaint. One suspects that the Trustees haven't arbitrarily made a decision. 

Gary1984

Indeed. If the scheme rules refer to pensions being revalued for 'inflation' rather than specifically 'RPI' then there probably won't be anything you can do about it.