What is the Pension Review Group
and who is in it?
The Pension Review Group, which is completely independent of the trustees and the company, was established in 2004 because for several years pensioners received no annual cost of living increase to their pensions. The group, led by John Freeman, fought a vigorous campaign to reinstate inflationary increases and for a few years we received payment in line with the UK Retail Prices Index (RPI).
This arrangement ceased in 2009 after the Thomson organisation of Canada acquired Reuters and once again the PRG lobbied the Company, by then Thomson Reuters, for a resumption of the cost of living adjustment (COLA). Finally, in 2012 the trustees and Thomson Reuters reached an agreement to pay pensioners an increase in line with RPI, but capped at 2.5% for a period of ten years.
This was subsequently extended for a further three years by Blackstone, which had acquired Reuters’ former terminals and data business, and the agreement expires at the end of 2024. Full details of our campaigns can be found in this website’s Archive.
The PRG has created this new site in order to communicate with members about news within the RPF and SPS, and specifically developments on future arrangements for inflationary increases beyond the end of 2024. We will also be publishing news about what is happening in the pensions industry in general, which might have some impact on our own pensions. Some members have left PRG after many years supporting the group’s work, and the team has acquired some new members who bring a variety of additional expertise. The group met the trustees in June 2023 and is now engaged in dialogue with them about our pensions in the future.
It would be useful for the PRG to have your comments on the current annual cost of living agreement and how you have been affected by rising inflation and the loss in value to your pensions over the years.
PRG believes it is important that RPF and SPS members have a voice in the future of their pensions, so please send us your views by clicking on Contact.
Please check the website for updates on PRG activities and company pension news as well as developments in the pensions industry as a whole. We will be sending alerts to people on our mailing list when there is important news to share. We want to reach as many members as we can, so please get in touch with former colleagues who might be interested in PRG initiatives and let them know about the PRG, this website and the ability to subscribe to email updates.
Members of the PRG