The National Association of Pension Funds (NAPF) commented on the consultation on possible changes to the Retail Prices Index(RPI), which was launched by the Office for National Statistics (ONS) today.
Darren Philp, NAPF’s Policy Director, said:
“Changing the way RPI is calculated could have far-reaching consequences for both pension funds and pensioners.
“Pension funds are big investors in government debt so any changes to index-linked bonds could have major impacts on those investments. A shift in RPI could also affect the amount by which the pensions being paid to retired workers go up each year, and change the overall funding position of the pension scheme.
“The ONS has set out a few different routes and we will consider their wider implications for the pensions landscape.”
Notes to editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]