12 July 2010
Further to our recent news item on
indexation (9th of July) the DWP Newsroom has
issued a statement on pension indexation changes.
Within this statement it was confirmed that the proposed changes
will affect how deferred pensions are revalued in future and also
how pensions in payment are increased. The changes will affect
defined benefit rights and also certain defined contribution
rights. The amendment will change statutory minimum requirement for
revaluation and indexation of pensions in payment. However
occupational pension schemes will still have the freedom to pay
more than the statutory minimum if they wish to do so.
The full, and more detailed, DWP statement can be found on their
webpage here:
http://www.dwp.gov.uk/newsroom/press-releases/2010/july-2010/dwp088-10-120710.shtml
