Before drawing your pension
Increases will be applied to each year’s CARE pension at the rate of the increase in the Retail Prices Index (RPI). The RPI used for this purpose is measured over the 12 months to the immediately previous September.
This increase will be subject to a maximum of:
- 5% in any individual year for CARE pension earned before 1st March 2010; and
- 2.5% in any individual year for CARE pension earned on and after 1st March 2010.
The CARE pension accrued in any year was only first increased on the 1st January that fell 12 months from the end of the year of accrual.
After drawing your pension
Your pension will increase on 1st January each year in line with the increase in the RPI, up to a maximum of 2.5%. If the increase in RPI is less than 1% no increase will normally be applied, this does not apply to Bradford members
The RPI used for this purpose is measured over the 12 months to the immediately previous September.
Previous pension in payment increases applied on each 1st January
|Year 2008||% increase 2.5|
|Year 2009||% increase 2.5|
|Year 2010||% increase 0|
|Year 2011||% increase 2.5|
|Year 2012||% increase 2.5|
|Year 2013||% increase 2.5|
|Year 2014||% increase 2.5|
|Year 2015||% increase 2.3|
|Year 2016||% increase 0|
|Year 2017||% increase 2.0|
|Year 2018||% increase 2.5|
|Year 2019||% increase 2.5|
|Year 2020||% increase 2.4|