Treasury slammed for cost-saving CPI switch

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Occupational pension scheme members have attacked the switch in indexing benefits to CPI inflation as a Treasury cost-saving exercise aimed at benefitting business over pensioners.

The Occupational Pensioners' Alliance (OPA), which represents two million occupational scheme members, accused the government of rushing through the changes, saying it had failed to consult on the switch from the RPI properly. OPA members will lobby parliament on Tuesday with a host of other public sector and civil service pension scheme members to try to convince MPs to contest the switch. OPA executive officer Roger Turner says: "People believe they have a right to the RPI. Morally, they are probably right. "The government accepted the RPI did not work for the state pension and d...

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