Benefits
How your pension increases before you retire
The pension you’ve built up increases each year until you retire.
The increase you’ll get depends on:
- whether you are an active or deferred member
- what parts your pension is made up of
Read about how your pension increases after you retire
Active members
While you are an active member, the pension you’ve built up increases each year.
You receive different increases for different parts of your pension.
| Part of your pension |
Increases each year based on |
Part 1
Pension built up to 31 March 2006
|
The Retail Price Index (RPI) |
Part 2
Pension built up between 1 April 2006 and 31 March 2012
|
The Retail Price Index (RPI), up to a maximum of 5% |
Part 3
Pension built up from 1 April 2012 onwards
|
The Consumer Price Index (CPI), up to a maximum of 5% |
Deferred members
Your pension increases each year from the date you became a deferred member up until the date you retire.
| Part of your pension |
Increases each year based on |
|
Pension built up to 5 April 2009
|
The Retail Price Index (RPI) |
Pension built up from 6 April 2009 onwards
|
The Consumer Price Index (CPI), up to a maximum of 5% for each year between becoming deferred and the date you retire |
Some members may receive different increases. If you do, we’ll have sent you details about this when you became a deferred member.
If you’re not sure what increases you get, you can contact us.