It has just been pointed out to ExPo that it has been 4 years since the OBA Government decided to impose a freeze on the cost of living allowances on Government and Police pensions.
We have now missed at least one or two cost of living increases since the freeze was imposed while stock markets the world over have soared to record highs, and presumably our local funds, even if they only managed average increases, have done rather well.
With the upcoming General Election it has been suggested that when our MP’s and candidates knock on your door, we lobby them to enquire about the state of our pension funds and why is this freeze on Government/Police pensions still in place. Bearing in mind that we have no other way of lobbying Government we would urge you to do so personally when the candidates come knocking on your door.
16th July 2017
Update - Iain Morrison has kindly provided us with this additional information about the freeze on Government pensions:-
“Before the freeze, the cost of living increases were reviewed every second year, on even years. We were last awarded a cost of living increase in 2012, which, I believe amounted to a 5% increase. The Government introduced the 'freeze' in 2014, just as it was due to be reviewed again - i.e. the next even year after 2012. Obviously, it is next due for review in 2018. So, we have currently missed TWO potential increases (2014 & 2016) and if we are lucky enough to have the freeze lifted, and get some sort of increase in 2018, it will be the first one for SIX years.”
Iain also thought it was a good idea to lobby MP’s and candidates in the run-up to the election on 18th July.