NHS pension gets day in court over CPI switch
A test case has been launched by trade unions in London’s high court last week to prevent the switch in public sector pensions from the Retail Price Index to the Consumer Price Index. This change was announced in George Osborne’s budget in his June 2010 budget and came into force April 2011. The reason this case is so relevant for NHS dentists and other public sector workers is that CPI is typically 1.2% lower than RPI having a potentially big impact on retired pensioners.
Interestingly the judges had to declare an interest at the start of the trial as their pensions would be affected and potentially imporved if the unions are successful.