Several unions are taking action in the High Court to challenge using the consumer price index (CPI) instead of the traditionally higher retail price index
(RPI) for the annual increase in public sector pensions.
The bond offers a three or five-year fixedrate term, paying interest based on the Retail Price Index
, plus a guaranteed 0.
In the year to December, Retail Price Index
inflation was 4.
Under the present system, the Retail Price Index
(RPI) rate of inflation for September is used to determine the annual rise in business rates in England and Wales which comes into effect in the following April.
Simon Beanland, director of investment at GVA Grimley, Newcastle, said: "Our clients Legal & General were seeking access to good quality income secured over the longer term with the added advantage of Retail Price Index
(RPI) linked upward only rent reviews.
Annual inflation in May, measured by the retail price index
(RPI), was 4.
In addition staff are being offered either the Retail Price Index
rate plus 0.
Yet when they faced a loss of values to their salaries in the same way as state pensioners have since Mrs Thatcher broke the indexation with average earnings in 1980, they called on five separate reviews of their salaries which gave all MPs large percentage increases on top of their annual retail price index
The ceiling will be linked with the retail price index
and in the meantime officials will work on minor adjustments such as removing anomalies over prizemoney.
The usual measure of underlying inflation - the Retail Price Index
(RPIX) - is predicted to have dipped again last month after June's 0.
The government's Retail Price Index
this week showed prices for all foods rising 3.
From 1998 increases in revenues derived from traffic charges (making up around 30% of total) have been restricted to the retail price index
(RPI) minus 3% -- as opposed to RPI-1% in 1996 and 1997.
He said time was running out to reverse the switch to using the consumer price index (CPI) instead of the, normally faster-rising, retail price index
Jim Singer, 59, who works for the Department for Work and Pensions in Scotland, launched the petition on a government website to criticise the change in upgrading pensions in the private and public sectors from the Retail Price Index
(RPI) to the usuallylower Consumer Price Index.
The bond offers a three or five-year fixed rate term, paying interest based on the Retail Price Index
(RPI), plus a guaranteed 0.