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>> Pensions >> Pension rise for 2014 2.7% for Old Benefits
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Message started by JakeF on Mar 9th, 2014, 12:23pm

Title: Pension rise for 2014 2.7% for Old Benefits
Post by JakeF on Mar 9th, 2014, 12:23pm

Source BBC Website
Pension Increase 2014
The pension increase will be applied from 1 April 2014

This year's pension increase for Old and New Benefits members of the Scheme is 2.7%. The pension increase for Career Average Benefits (2006) will be 2.5%.

The basis used for calculating annual increases under the rules of the Scheme is the rise in the Retail Prices Index (RPI) for the calendar year ending 31 December.

The figure for December 2013 was 2.7% and BBC pensions will be increased by this amount with effect from 1 April 2014.

The pension increase for Career Average Benefits (2011) members will be 2.0%.

The basis used for calculating annual increases under the rules of the Scheme is the rise in the Consumer Prices Index (CPI) for the calendar year ending 31 December.

Pensioners will receive a letter at the end of March confirming the details of the increase. The increase will be reflected in your April pension payment.

Title: Re: Pension rise for 2014 2.7% for Old Benefits
Post by JohnW on Mar 9th, 2014, 7:12pm

Are we back to the old RPI/CPI debate again?
Or has CPI won out?

Title: Re: Pension rise for 2014 2.7% for Old Benefits
Post by Bill Jenkin on Mar 10th, 2014, 7:48am

The RPI still applies to the "Old" and "New" Benefits members of the Scheme, the RPI also is still used in the calculation for the old Career Average Benefits Scheme (2006) members.
The new Career Average Benefits Scheme (2011) is the only one where the CPI applies.

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