Comments on draft abstract 'Accounting implications of the replacement of the Retail Prices Index with the consumer Prices Index for retirement benefits'

Document description

In June/July 2010, the UK Government announced that future statutory pension increases (both increases in payment and revaluation in deferment) would be based on the Consumer Prices Index compared with the historic approach of using the Retail Prices Index. The abstract aims to clarify: In what circumstances the UK government's proposals should be considered a benefit change and in what circumstances it should be considered an assumption change.