Question
The value of an index-linked pension is updated each September using the RPI. In September 2007 the pension paid £265. Calculate the value of the pension in September 2008. The value of the RPI was 208.0 in September 2007 and 218.4 in September 2008
Answers
(218.4/208.0)* £265 = £278.25
In the USA, the RPI (Retail Price index) is called the COLA (Cost of Living Adjustment).
In the USA, the RPI (Retail Price index) is called the COLA (Cost of Living Adjustment).
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