UCU: The impact of inflation measures on retirement benefits

Motion

Motion text: Congress notes that:
Mathematically, the inflation measure CPI is almost invariably lower than RPI. The government is using CPI when uprating benefits such as pensions, and RPI when levying interest on student loans. This is indefensible.
Whereas the gap between CPI and RPI was historically around one percentage point, research by ourselves and the ONS demonstrates there is a strong correlation between the level of CPI and the size of the RPI-CPI gap. January’s data show that as CPI has risen to 5.5%, but RPI was 7.8%. The gap was 2.3 percentage points.
If CPI peaks at 8%, then RPI could reach well into double figures, raising serious implications for our members, pensioners, and society generally.
Congress instructs the Executive to bring this situation to the attention of our members and to spokespersons of political parties and to make use of this information in our current campaigns.