The British people who worked in the private sector are going to suffer because of a cap on increases which means they will not keep up with price increases. The defect will cost retirees an average of £ 400 this year and 000 7,000 over their lifetime, and could potentially save around 30 30 billion in program-funded businesses. Almost all fixed benefit (WS) schemes, which pay a fixed amount each year depending on length of service, increased benefits by a maximum of 5 percent per year, even when inflation was higher. The ceiling was reduced to 2.5 percent in 2005. Prior to 1997, there was no obligation
