View more on these topics

Court of Appeal rejects union CPI challenge

Six public sector trade unions have had a bid to reverse the Government’s decision to switch pensions indexation from RPI to CPI rejected by the Court of Appeal.

The unions launched the legal challenge after the change to CPI indexation, which tends to be lower than RPI, was announced by Chancellor George Osborne (pictured) in the 2010 Budget.

The judicial review began in October last year, with the unions arguing that the move was not permitted under social security legislation and reneged on commitments from previous Government’s that RPI would apply.

The High Court delivered a majority verdict in favour of the Government in December 2011, leading to an appeal from the unions.

The Court of Appeal has today ruled that the Government was entitled to make the change.

Thompsons Solicitors, which is representing the trade unions, says they are now considering their next steps.

Recommended

11

HMRC finding it difficult to close Qrops loopholes

HM Revenue & Customs’ officials must be pulling their hair out at the attempts of jurisdictions to stay one step ahead of this April’s changes to the qualified recognised overseas pension scheme regulations. The ease with which Guernsey has come up with a solution to the abolition of expat-only Qrops surely means it is only […]

12

MM Leader: Sants was a symbol of FSA’s refusal to listen

FSA chief executive Hector Sants’ decision to quit the regulator will see him join the steady stream of senior staff to leave in recent times. Sants, who was an investment banker and previously FSA managing director of wholesale, endured a rocky relationship with the IFA community who saw him leading a regulator all too ready […]

Budget 12: Government seeks to make Isa market more transparent

The UK Government has pledged to improve transparency and competitiveness in the Isa market. The Government will work alongside the industry in targeting improvements to transfer periods and information exchange. “The government encourages industry to reduce transfer periods as far as possible, making use of technological advances in how funds are transferred and how information […]

1

Former Shadow minister Waterson takes Ship chair

Equity-release trade body Safe Home Income Plans has appointed former Conservative Shadow pensions minister Nigel Waterson as chairman. Waterson replaces Laurie Edmans, who stepped down in December 2011. Waterson says: “This is a historic moment of opportunity for equity release to boost incomes in retirement, fund long-term care costs and generally support a comfortable older […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. They should scrap indexation full stop, we can’t afford it.

Leave a comment