Changes to the 2011 Pension Increase
Wednesday, 15 December 2010 09:49
The UK Government's Budget on 22nd June 2010 announced the intention to switch the basis of uprating public service pensions from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI). The decision on annual uprating is reserved to the UK Government and accordingly applied to the schemes in Scotland.
HM Treasury Guidance on CETV and CPI Changes
Sunday, 08 August 2010 00:00
The Treasury has released Updated guidance on the discount rate for use in calculating CETV's. Guidance document
There are also Questions and Answers about the change from RPI to CPI as announced in the June Budget. Questions and Answers
Independent Public Service Pensions Commission (IPSPC)
Public service pensions are the subject of a UK Government review, taken forward by the Independent Public Service Pensions Commission (IPSPC), chaired by John Hutton. Pensions policy is a reserved issue. Scottish Ministers have limited devolved responsibilities for some public service pension schemes and have already moved to ensure those schemes are affordable, sustainable and fairer. The Cabinet Secretary for Finance and Sustainable Growth has written to the Chief Secretary to the Treasury; recognising the need for further consideration of public service costs; asking for a thorough process of engagement with Scottish stakeholders in the pensions review; and offering to meet the Commission's chairman, John Hutton.
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