Your pension from the Scheme will be reviewed each year in line with the cost of living which is measured by the Consumer Price Index (CPI).
The rate of pension increase is set each April (for April 2021 this was 0.5%). If you have been retired for less than 12 months you will receive a proportional increase. We will contact you every April with details of your pension increase.
You will only receive an increase each April if you:
Are aged 55 or over, or
Retired on ill health grounds, or
Are receiving a widow's, widowers, surviving partner or child's pension.
If you don't fall into one of these groups your pension will be paid at its initial amount until you are 55.
At that point we will apply pension increases to bring the pension to the level it would have been had it been increased each year since your retirement.