Pensions: Private Sector

(asked on 20th July 2015) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if he will publish guidance for people with private sector pensions on the effect of decisions to change the basis on which pensions are uprated on those people.


Answered by
Justin Tomlinson Portrait
Justin Tomlinson
This question was answered on 7th September 2015

Increases to private sector pensions in payment will depend on the scheme rules. The Government sets a statutory minimum for the indexation of certain defined benefit pensions accrued between specific dates and, as long as schemes meet this minimum, they may choose how and when to increase pensions in payment and on what basis.

In some cases rules may contain a requirement for specific increases; in others the trustees can exercise their discretion.

It is, therefore, for the scheme to provide members with information about any changes to pensions in payment.

Reticulating Splines