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More information needed on CPI switch

by isleofman.com 11th March 2011

A bid to change the method by which public sector pension rises are measured needs to be more widely debated before going any further, according to the local branch secretary of the Communication Workers' Union.

Next week, Tynwald will be asked to switch the base for rises from the Retail Price Index to the Consumer Prices Index.

Manx government officials say the new approach would better reflect increases in the cost of living, and help reduce administration costs.

However, the CPI and RPI calculate the rate of inflation slightly differently, and Jon Joughin says the people of the Island need to know more before a decision is made:




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Posted by isleofman.com
Friday 11th, March 2011 02:07pm.

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