Deferred members

Pensions Increase

Every April, your deferred pension benefits are adjusted in line with any increases in the cost of living. This is called Pensions Increase.

Pensions Increase is set by Government and is effective from the first Monday on or after 6 April each year. It is usually the equivalent of the Consumer Prices Index (CPI) for the 12 months ending the previous September.

Each year, the Pensions Shared Service will issue an Annual Benefit Statement confirming the current value of your pension benefits after the latest increases have been applied.

Annual Benefit Statements will be sent to your home address, so if you move home it is important that you inform the Pensions Shared Service of your new address by email or in writing.