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There is no doubt that inflation increases interest rates and thus return on investment. This can be more or less enough to index pensions. So indexing on average is no cost to the pension fund. Unfortunately OTPP playing with COLA sets an example for other pension plans to take similar action.

There is no more reason to decrease indexing than there is to increase indexing.

The DB pension is the best retirement vehicle. It has been adjusted and there is much misinformation about it.