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Minister defends pension change

by isleofman.com 12th March 2011

The Treasury Minister has defended a change to the way public sector pensions will keep-up with inflation.

Until now, cost-of-living rises have been based on the Retail Price Index - the RPI.

From April, that's to be replaced by the Consumer Price Index - the CPI - which doesn't include housing costs.

The Treasury Minister says many people pay-off their mortgages when they retire, so the Consumer Index, excluding housing costs, is more relevant.

And Anne Craine has dispelled any suggestion the index change affects the state pension:

Clip 1
Posted by isleofman.com
Saturday 12th, March 2011 09:06pm.

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