Pre-97 Urgent Briefing Note

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  1. Torsten Bell would not consider it on 1st reading and will not consider it in the future. The original decision not to make indexation compulsory before 1997 was because it would have driven some schemes into insolvency even by the rules then. To make it retrospective after a further 26 years and with pensions now subject to FRS17 may push a lot of schemes into the Pension Protection Fund, which is the last thing this or any other government wants.

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