Increases to Pensions

...helping deal with the effects of inflation

When you leave but keep your Deferred Pension in the Scheme, it may be some time before you actually come to retire. The effects of inflation would reduce the real value of your pension so the Scheme applies annual increases to your Deferred Pension until the time you actually retire (or, if earlier, die).

There are differences in how your pension is increased depending on whether your pension accrued before or after 1 January 2006. In addition, the way your pension increases before and after your pension comes into payment also differs.

Click here for benefits accrued before 1 January 2006

Click here for benefits accrued on and after 1 January 2006