Why does the 年金 保護 基金 only give pensioners a 2.5% raise? Steve Webb replies
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Why only a 2.5% raise? l'm sure everyone could do with a bigger 増加する
As a (弁護士の)依頼人 of the 年金 保護 基金 I have a comment to make about their generosity (or さもなければ).
I know they do a good 職業; I paid into a company 計画/陰謀 for 20 years before it was frozen and 10 years later the company went into 行政 (voluntary I think) when I still had three years left before I could draw the 明言する/公表する 年金.
Now that I am receiving my 年金 through the PPF only about half of it is 索引d for インフレーション because of the change in 支配するs in 1997.
ln a 最近の letter they said that although they have billions of 続けざまに猛撃するs of 資産s they have decided not to 増加する the indexable part of the 年金 by more than the 2.5 per cent 要求するd by the 支配するs.
To me this seems rather 不公平な. l'm sure everyone could do with a bigger 増加する because it is 現実に 減少(する)ing in rea l 条件.
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Steve Webb replies: The 最近の 殺到する in インフレーション has understandably led to a 新たにするd 焦点(を合わせる) on the 支配するs which 治める/統治する how much our 年金s go up by each year.
When インフレーション is low, people may manage even if their 年金 goes up by a lower 人物/姿/数字, but when we see 二塁打-digit インフレーション this can really dig into our 基準 of living.
As you know, the 年金 保護 基金 供給するs a 手段 of 保護 to those who were in company 年金 計画/陰謀s where the sponsoring 雇用者 who stood behind their 計画/陰謀 went 破産した/(警察が)手入れする.
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There are さまざまな 尊敬(する)・点s in which the 補償(金) 供給するd by the PPF may 落ちる short of the actual 年金 you would have received had your 計画/陰謀 continued.
The most obvious of these is that people who were under 年金 age when the 雇用者 went 破産した/(警察が)手入れする will have 補償(金) based on 90 per cent of their 年金 rather than 100 per cent for those who were over 年金 age.
But a いっそう少なく obvious 制限 on PPF 補償(金) is the fact that 年次の 増加するs in 尊敬(する)・点 of インフレーション are 限られた/立憲的な and may be いっそう少なく generous than the 増加するs you would have received if your 計画/陰謀 had continued.
For example, インフレーション 増加するs paid by the PPF use the 消費者 Prices 索引 (消費者物価指数) as the 手段 of インフレーション 反して many company 年金 計画/陰謀s 支払う/賃金 増加するs based on the (usually higher) 小売 Prices 索引 (RPI).
In 新規加入 to this, as you say, for 年金s in 支払い(額), service in a 年金 計画/陰謀 before 1997 attracts no インフレーション 保護 at all, whilst 地位,任命する 199 7 service gets indexation only up to a cap of 2.5 per cent.
This is an important 制限, and the PPF website 示すs that in 10 of the last 18 years that 2.5 per cent cap has been 適用するd:?年金 保護 基金 - Will my 年金 増加する??
The 問題/発行する of PPF 増加するs often 落ちるing below インフレーション is one that has been rumbling on for a long time. Indeed, I wrote a column about this very 問題/発行する more than three years ago: Why don't PPF 支払い(額)s ever rise with インフレーション?
However, there are two 推論する/理由s why the political 気温 on this 問題/発行する has been turned up recently.
The first, as 公式文書,認めるd earlier, is that a 長引かせるd period of high インフレーション has made these 限られた/立憲的な 年次の 増加するs much more painful.
The second is 現実に a byproduct of the PPF’s success.
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The 財政上の position of the PPF has 改善するd markedly in 最近の years. In part this 反映するs things like the 増加する in 利益/興味 率s which has 改善するd the 財政上の position of company 年金 計画/陰謀s and of the PPF.
But the PPF has also 達成するd good 投資 returns (その為に 上げるing the 資産s of the PPF) and has seen lower than 推定する/予想するd (人命などを)奪う,主張するs (その為に 減ずるing the 推定する/予想するd 支出s).
Although the PPF does not like to talk about having a ‘黒字/過剰’, its 最新の 年次の 報告(する)/憶測 shows that PPF has ‘reserves’ of just over £12billion: 年金 保護 基金 年次の 報告(する)/憶測 and accounts 2022/23.
This could be thought of as a ‘衝撃を和らげるもの’ over and above the money that PPF 推定する/予想するs to have to spend 会合 the 義務/負債s which it has taken on to date and will take on in the 未来.
This large 人物/姿/数字 does, of course, raise the question as to whether some of it could be used up in 支払う/賃金ing bigger インフレーション 増加するs to the nearly 200,000 people who 現在/一般に receive PPF 補償(金).
This 問題/発行する is 特に 演説(する)/住所d in its 最新の 年次の 報告(する)/憶測 which explains that although PPF is bound by 法律 ーに関して/ーの点でs of the 支配するs on pre 1997 service, the organisation can be more generous on 地位,任命する 1997 service if it feels this is appropriate.
The 報告(する)/憶測 says that the Board of the PPF looked at a 範囲 of factors, 含むing the fact that they only had the 力/強力にする to change things with regard to 地位,任命する 1997 service (and not the bigger squeeze on pre 1997 service) and the fact that the 政府 itself had not 示すd any change in 政策. But in the end they decided to make no change at this 行う/開催する/段階.
However, the Work and 年金s Select 委員会 of the House of ありふれたs has been looking into this 事柄 and took oral 証拠 from the (then) 大統領 of the PPF, Oliver Morley in November.
You can read a transcript of the 証拠 開会/開廷/会期 here: Work and 年金s 委員会: Defined 利益 年金 計画/陰謀s
They also heard 代表s from pensioners unhappy at the 限られた/立憲的な level of インフレーション 保護.
The PPF’s position as 始める,決める out by its 長,指導者 (n)役員/(a)執行力のある is that 最終的に it is a 事柄 for 政治家,政治屋s to make a 決定/判定勝ち(する) about the 支配するs around PPF 補償(金).
The PPF was created by an 行為/法令/行動する of 議会 which 始める,決める 支配するs and 限界s as to what PPF can and cannot do, and his 見解(をとる) was that any change to those 支配するs should also be 決定するd by 議会.
But, perhaps surprisingly, he did however 追加する that, with regard to the 欠如(する) of indexation on pre-1997 service, he felt that ‘there is a good 事例/患者 on 公正,普通株主権 grounds’ for taking 活動/戦闘.
In 新規加入, the new 年金s 大臣, Paul Maynard MP, subsequently told the 委員会 he had asked civil servants to look afresh at the whole 問題/発行する of PPF indexation.
In short therefore, whether or not PPF 補償(金) is 改善するd in 未来 is likely to depend まず第一に/本来 not on the PPF and its board but on the 決定/判定勝ち(する)s of 現在の and 未来 大臣s.
But with an 選挙 予定 in いっそう少なく than a year, this may be an 問題/発行する where those 影響する/感情d will 捜し出す to bring 圧力 to get the 支配するs changed.