Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Whats an index 5% increase?

Options
  • 24-03-2011 2:07pm
    #1
    kop77
    Registered Users Posts: 820 ✭✭✭


    Hi, just wondering whats an index 5% increase or an indexation option is regarding a pension scheme. It was removed from my company pension a few years without my consent? I get the feeling I'm out of pocket.

    Thanks.


Comments

  • Options
    #2
    The Rooster
    Registered Users Posts: 4,517 ✭✭✭The Rooster


    kop77 wrote: »
    Hi, just wondering whats an index 5% increase or an indexation option is regarding a pension scheme. It was removed from my company pension a few years without my consent? I get the feeling I'm out of pocket.

    Thanks.

    Indexation relates to a defined benefit pension scheme.

    Whatever the defined pension is at date of retirement it increases each year in line with inflation/CPI index.

    Obviously, it costs more to fund a pension with indexation built in.


  • Options
    #3
    kop77
    Registered Users Posts: 820 ✭✭✭kop77


    The Rooster wrote: »
    Indexation relates to a defined benefit pension scheme.

    Whatever the defined pension is at date of retirement it increases each year in line with inflation/CPI index.

    Obviously, it costs more to fund a pension with indexation built in.

    Thanks, I'm wondering if the company I work for had the right to do that a year after I signed up for the pension before I confront them about it.


Advertisement