New £100bn （警察の）手入れ，急襲 on final salary 年金s

By Dan Hyde
Updated: 13:00 BST, 25 November 2010

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Billions of 続けざまに猛撃するs could be wiped off 私的な 部門 年金s under 政府 計画（する）s to throw a lifeline to Britain's flailing final salary 計画／陰謀s.

削除するd: 私的な 年金s could be linked to the slower-rising 消費者物価指数 under 政府 計画（する）s

A new 法律 could 許す all UK companies to change the 率 at which 年金 payouts 増加する each year from RPI インフレーション to 消費者物価指数.

Accountants KPMG 見積（る） this could 減ずる UK 私的な 部門 年金 義務／負債s by 10% or about £100bn.

That would help companies struggling to keep 計画／陰謀s open.

But turn it around, and that's £100bn taken from tomorrow's pensioners - cash they'd have 以前 pocketed during 退職.

Most final salary 計画／陰謀s 現在／一般に 約束 to 昇格 former 従業員s' 年金s by the 小売 prices 索引 手段 of インフレーション (RPI).

This is designed to keep their value to retirees 一貫した with the rising cost of living in the UK, and is usually 'hard-wired' into 計画／陰謀 支配するs.

But 計画（する）s to be 発表するd within the next fortnight could 許す 会社／堅いs to break their 約束s to 従業員s and 無視／無効 存在するing RPI links.

Instead, they'll be 許すd to switch to the typically slower-rising 消費者 prices 索引 (消費者物価指数), 徹底的に cutting the 量 of money pensioners can 推定する／予想する in 退職.

Since its 公式の／役人 開始する，打ち上げる in 1997, 消費者物価指数 has 普通の／平均（する）d 0.87 百分率 points below RPI. Today, for example RPI stands at 4.5% and 消費者物価指数 at 3.2%.

If the two 対策 follow their historic patterns, the switch will mean a 65-year-old's 年金 will be 価値（がある） 16% いっそう少なく over 20 years', the 年金s 政策 学校／設ける 見積（る）s.

For a pensioner 現在／一般に receiving £10,000 a year, this means a 年金 of £11,400 rather than £12,200 in 2016.

The main 推論する／理由 for the difference is that RPI 含むs 住宅 costs, such as mortgage 利益／興味 支払い（額）s and other 維持／整備 costs, 反して 消費者物価指数 does not.

Lower 支払い（額）s, but final salary 計画／陰謀s may 生き残る

Pensioner groups have been enraged by news of the 最新の cost-cutting 計画（する）s, 説 they feel 'cheated' by the 政府.

The bad news for them is that Tom McPhail, 年金s 専門家 at Hargreaves Lansdown, said he'd be 'surprised' if most 会社／堅いs didn't make the switch, given their 基金ing struggles.

'Undoubtedly, a move from RPI to 消費者物価指数 will in some 事例／患者s lead to an 腐食 in value of people's 年金s,' McPhail said. 'Members are 権利 to be 関心d ? I would be if I was in their position.'

'But the 賄賂 is that giving 計画／陰謀s 'wriggle-room' like this might 許す them to stay open. So you could say the 無視／無効 現実に 増加するs the chances of some 利益s 存在 paid out and 持続するs インフレーション indexation at the same time.'

The 脅し to final-salary

Britain's 最高の，を越す companies are 存在 軍隊d to 注ぐ 抱擁する sums of money their 年金 計画／陰謀s, but they still remain billions of 続けざまに猛撃するs in 負債. 研究 by 年金 資本／首都 戦略s 見積（る）s that FTSE 100 companies have a 連合させるd £66bn 不足（高）.

That means if they wouldn't be able to 会合，会う all their 約束s to 従業員s if they were 軍隊d to 支払う／賃金 today.

圧力 is now 存在 piled on to 計画／陰謀s by 増加するd life 見込みs. An extra year of life for a retired person typically means a 年金 計画／陰謀 must 増加する its 在庫／株 of 資産s by 3% to 4% to 生成する the necessary extra income.

And new EU-wide 支配するs could yet 押し進める up the cost of 治めるing 基金s by up to 90%. European （売買）手数料，委託（する）／委員会／権限 提案s would 軍隊 雇用者s to 支払う／賃金 in 抱擁する extra sums to 減ずる the 危険 of 年金 基金s 崩壊（する）ing. The 国家の 協会 of 年金 基金s 警告するd the 計画（する）s would be the 'final nail i n the 棺' of final salary 年金s.

In 返答, many final salary 計画／陰謀s have shut 負かす／撃墜する and been passed to the 年金 保護 基金, which services 年金s 借りがあるd to members, usually 支払う／賃金ing at least 90% of what they're 借りがあるd.

従業員 利益s specialist, Aon 協議するing, reckons that half of 雇用者s in the UK with final salary 計画（する）s could の近くに them to 未来 accruals as 早期に as 2011 - trebling the number, which have already done so.

BT has already 減ずるd its mammoth 年金 基金 赤字 from £7.9bn to £5.2bn by making the switch from RPI to 消費者物価指数. And public 部門 労働者s already 直面する the 消費者物価指数 switch from April next year.

James Walsh, of the 国家の 協会 of 年金 基金s, says there may be some hope for 私的な 部門 final salary members if the 政府 chooses to go with the new 'better' 手段 of 消費者物価指数 インフレーション it is working on.

What about the new 手段 of インフレーション?

Last week we 報告（する）／憶測d on 計画（する）s to 開始する，打ち上げる a 消費者物価指数 加える 手段 of インフレーション that 含むd 住宅 costs but without the distortions 現在の in the RPI.

This would help 橋（渡しをする） the gap between RPI and 消費者物価指数 and わずかな／ほっそりした the 可能性のある 削減 of 提案するd indexation switches.

Pensioner groups are enraged by the prospect of lower payouts, which they see as an attack on their accrued 権利s.

Roger Turner, 長，指導者 (n)役員／(a)執行力のある of the Occupational Pensioners' 同盟, says: 'There could easily be a human 権利s 問題／発行する here. What is the 所有物／資産／財産 that you've accrued? Is the accrued 権利, a 権利 to an RPI 増加する? Unfortunately it will be やめる difficult to 裁判官.'

Neil Duncan-Jordan from the 国家の 条約 of Pensioners said: 'This is a recipe for 年金 災害. There are millions of 未来 and 存在するing pensioners who are going to be 影響する／感情d by this but 港／避難所't realised it. This is going to 影響する／感情 事実上 every one of us.'