Till such time PCDA actually issues a Circular for implementing VII CPC pensions for ESM, it would be prudent, given past experiences, to not quite start pouring out the bubbly.
In any case, the first step of paying out pensions at 2.57xOROP would be well short of the matrix based pensions that VII CPC had recommended. The "Resolution" speaks of implementation of matrix based pensions subject to feasibility. The "Resolution" also raises questions about the methodology of fixing the stage in the matrix for an ESM as has been highlighted in the extract as embedded here:
Nothing seems to have changed from the time in December 2015 when these issues were first mentioned.
