Written question asked by Lord Laird (Ulster Unionist Party), in the House of Lords. It was answered by Baroness Hanham (Conservative) on Monday, 19 March 2012.

Pensions

Question: To ask Her Majesty's Government, further to the Written Answer by Baroness Hanham on 27 February (WA 302–03), whether the Consumer or Retail Prices Index was meant by the ““Prices Index”” in her answer that ““both pensions in payment and deferred benefits in the proposed Firefighters' Pension Scheme, to come into force from 2015, would continue to be up-rated in line with Prices Index””.

Answer: ““Prices Index”” is the rate of annual increase to pensions awarded within public service pension schemes as determined by HM Treasury under powers in the Pensions (Increase) Act 1971 and Section 59 of the Social Security Pensions Act 1975. The intention is that the proposed Firefighters' Pension Scheme will continue to be up-rated in line with Prices Index. As I set out in my Written Answer on 27 February, the Government announced in the June 2010 Budget that their policy was to use the Consumer Prices Index instead of the Retail Prices Index as its preferred measure of prices.

Secondary information

Type: Written question
Reference: 16249; 736 c144WA
Session: 2010-12
Related items: Pensions
Monday, 23 April 2012
Written questions
House of Lords; Pensions
Monday, 27 February 2012
Written questions
House of Lords
Subjects: Fire and rescue services Workplace pensions Uprating
Link: View this Written question on www.publications.parliament.uk