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Pension rise for 2014 2.7% for Old Benefits (Read 4530 times)
JakeF
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Pension rise for 2014 2.7% for Old Benefits
Mar 9th, 2014, 10:22am
 
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.
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JohnW
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Re: Pension rise for 2014 2.7% for Old Benefits
Reply #1 - Mar 9th, 2014, 5:11pm
 
Are we back to the old RPI/CPI debate again?
Or has CPI won out?
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Bill Jenkin
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Re: Pension rise for 2014 2.7% for Old Benefits
Reply #2 - Mar 10th, 2014, 5:47am
 
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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