Former Nissan staff and Labour MP urge inflation rises for pre-1997 pensions

4 articles · Updated · BBC.com · Apr 30

At Nissan's Sunderland plant, retirees said pre-April 1997 defined-benefit savings lack mandatory inflation protection; one pensioner said his pension rose 8.3% since 2016 against inflation above 40%.
Steve Clare, Di Gomm and David Harris said the gap has eroded retirement incomes, while MP Luke Akehurst called it an injustice affecting members of similar schemes nationwide.
Nissan said it complies with regulations and trustees must weigh relevant factors on discretionary increases. The DWP said wider reforms would give well-funded defined-benefit scheme trustees more flexibility to improve benefits.

What hidden practices in company pension schemes might still erode retirees’ incomes, even as new laws promise greater fairness?

With billions in surplus, why are so many UK pensioners still losing out to inflation on their pre-1997 benefits?

Could the new Pension Schemes Act finally lead to inflation-linked increases for pre-1997 pensions, or will trustees keep surpluses for other uses?