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LCP concern over priority rule changes

Lane Clark & Peacock says the Department for Work and Pensions&#39s priority order plans, while welcome, will have to be changed when the Pension Protection Fund comes in in 2005.

Under the rule change retired pensioners will lose priority over non-retired members for indexation of their pensions.

Lane Clark & Peacock senior partner Martin Slack says: “We are concerned that the priority order will need to change again when the new Pension Protection Fund is introduced from April 2005. The prospect of two changes to priority orders in less than 12 months is hardly consistent with an objective of simplification.”

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