542

of 1,000 signatures

To The Secretary of State for Work & Pensions in conjunction with all Pension Scheme Trustees.

Defined benefit pension increases in both the private and public sector are mostly capped at the lower of 2.5% or 5% RPI. This is much less than the current levels of inflation, even with the promised Government support on gas and electricity costs. Pensioners will tend to spend a greater proportion of their income on heating and lighting than most people in work. Unless Putin decides to give up on his ambitions in the Ukraine, there will be a big Energy Cost Gap between 2.5% or 5% inflation for most pensioners.

Petition text

1. Please respond to the following question: In the exceptional cost of living crisis we are currently experiencing, should Defined Benefits pension schemes mirror the Triple Lock of State Pensions and use Trustee Discretion to increase pensions by RPI over the next 3 years?
2. Write to Mel Stride, current Secretary of State for Work and Pensions making this suggestion.

22 Nov 2022
Let’s follow up the Budget success of the Triple Lock being retained.
Historic Defined Benefit pensions should match the 10.1Triple Lock increase. Pension Funds & Trustees need to do the honourable thing & not cap increases at 2.5or 5 All pension schemes have Trustee Discretion. Grandma and Grandpa shouldn’t have to “lose out” against the spirit of what they saved throughout their working lives. They shouldn’t have to go “cap in hand” for what they deserve.

15 Nov 2022
Keep pensions & pensioners safe from another Chancellor’s raid on retirement
It started with Gordon Brown taxing Pension Funds’ investment income & introducing the Lifetime Allowance & Annual Allowance in 2006. It killed the private sector Defined Benefit pension plan or “proper pension” forever. Subsequent chancellors continued to introduce further stealth taxing of future pension wealth & future pension benefits. These underhand moves rarely make media headlines. Not till it’s too late & the irreversible damage is done. It’s the Treasury mugging Grandma & Grandpa! Hi

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Give non-state pensioners the equivalent benefit of the Triple Lock on pension increases

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