Pension increase for April 2011.

[patalford]

Chesterfield say letters going out 4/04/2011.As a section C my pension governed by RPI and willl increase by about 4%.

[lekker]

Chesterfield say letters going out 4/04/2011.As a section C my pension governed by RPI and willl increase by about 4%.

make the most of it mate. My information is that they are looking to change that

[jafferpants]

Lekker. And you recon theres a company that wont adopt the new index linking system. Dream on!!!!.Pensions actuarys are already advising companys to switch to this method. How do i know?. simple , my wife is a pensions actuary for the company that deals with RM's pension.

Of course they will. It saves them money. i am pointing out that the "caring employer" who took a 13 year pension holiday has now grabbed this with both hands. They don't have to - but it is in their interest to do so- not the interest of those pensioners who rely on their past contributions.

Your 100% right. Having just clocked up my 43rd year i'm way past the point where anything about this rag bag organisation suprises me. Don't worry folks the union are objecting to it. So thats done and dusted then LOL

[HGB]

look in this months Courier - page 06 botton left

[BELIAL]

Chesterfield say letters going out 4/04/2011.As a section C my pension governed by RPI and willl increase by about 4%.

Crikey ,somebody better let them know that RPI is at 5.6% or they might make an embarrassing error

[Tr@cker1952]

I think its capped to a maximum of 5% regardless of which measurement is applied. But CPI the way ive seen it for the period is substantially lower.

RM are in the poo with a declining letters business so its ironic now im drawing a pension im finding myself in favour of cuts to make the business more competitive.

Whats gonna happen to our pensions if it all goes up the Swanee ?

[belle smith]

Chesterfield say letters going out 4/04/2011.As a section C my pension governed by RPI and willl increase by about 4%.

make the most of it mate. My information is that they are looking to change that

Were did you get that information??

[belle smith]

I think its capped to a maximum of 5% regardless of which measurement is applied. But CPI the way ive seen it for the period is substantially lower.

RM are in the poo with a declining letters business so its ironic now im drawing a pension im finding myself in favour of cuts to make the business more competitive.

Whats gonna happen to our pensions if it all goes up the Swanee ?

You'll get your pension.
Pensions have the legal status of company creditors, it would be very unwise of the govement to have a govement owned company default on a debt to it's creditors.
well not unless they wanted to be charged more by the bond makets for goverment borrowing.

They just want to extract a price for stumping up the cash, somthing like the cuts your now regretably if understanderbly in favour of.

[lekker]

Chesterfield say letters going out 4/04/2011.As a section C my pension governed by RPI and willl increase by about 4%.

make the most of it mate. My information is that they are looking to change that

Were did you get that information??

national briefing this week

[BELIAL]

I think its capped to a maximum of 5% regardless of which measurement is applied. But CPI the way ive seen it for the period is substantially lower.

RM are in the poo with a declining letters business so its ironic now im drawing a pension im finding myself in favour of cuts to make the business more competitive.

Whats gonna happen to our pensions if it all goes up the Swanee ?

You'll get your pension.
Pensions have the legal status of company creditors, it would be very unwise of the govement to have a govement owned company default on a debt to it's creditors.
well not unless they wanted to be charged more by the bond makets for goverment borrowing.

Where there's a will, there's a way

[Tr@cker1952]

I think its capped to a maximum of 5% regardless of which measurement is applied. But CPI the way ive seen it for the period is substantially lower.

RM are in the poo with a declining letters business so its ironic now im drawing a pension im finding myself in favour of cuts to make the business more competitive.

Whats gonna happen to our pensions if it all goes up the Swanee ?

You'll get your pension.
Pensions have the legal status of company creditors, it would be very unwise of the govement to have a govement owned company default on a debt to it's creditors.
well not unless they wanted to be charged more by the bond makets for goverment borrowing.

They just want to extract a price for stumping up the cash, somthing like the cuts your now regretably if understanderbly in favour of.

Well i was lucky enough to get out on VR terms with a near full pension including enhancement at the relatively tender age of 57, i was a driver so the generous deal the union got for us as professional drivers was also in my favour.

But i read my pension was guaranteed for 5 years, implying some doubt after that time.

Even at CPI it will be a useful rise together with the raised tax allowance which i think is an extra £1,000 income before tax.

[RobertT]

Even at CPI it will be a useful rise

But over the long term your income will be much lower with CPI increases compared to RPI.

raised tax allowance which i think is an extra £1,000 income before tax.

The tax allowance goes up £1,000 to £7,475 for the under 65's from the new tax year and up to £8,105 in April 2012.

[BELIAL]

Oh oh ,watch this space .BA pensioners to be subject to retrospective action cutting 20% off their pension ; one trustee resigns, the rest take a bung? Have faith brothers ,trust your masters/betters

[oldnick]

Section A/B pensioners will get 3.1% (CPI) and Section C pensioners will get 4.6% (RPI). Sadly as a direct consequence of the Government's changed measure of inflation and the rules of Section A/b (which link increases to those Government orders).
Effective from April payments. Letters should be out in days.

[baztowse]

PENSION INCREASE FOR APRIL 2011 3.1% BAZ