Before your pension comes into payment

Generally, deferred pensions accrued to 1^st January 2006 (or date of leaving if earlier) in excess of any Guaranteed Minimum Pension (GMP) are revalued by the lesser of inflation and 5% a year compound over the whole period of deferment. The period of revaluation Is based on the complete years between date of leaving and retirement date. For periods prior to 2010, inflation is based on increases in the Retail Prices Index (RPI) and for periods from 2010 inflation is based on the increase in the Consumer Prices index (CPI).

If you are a former member of the Bradford Scheme, this element of your pension will increase by 5% a year.

However there are different rules and conditions applying to different members at different times over the history of the Scheme, it would be difficult to easily summarise the information that applies to each deferred member. We have therefore provided general information only in this section of the website - if you want to know your specific terms and conditions, your benefits and your options, then you must contact the Pensions Administration Team.

You will have a GMP if you had been an active member of the Scheme anytime between 6^th April 1978 and 5^th April 1997.

If you have any GMP element in your preserved pension, your GMP is revalued each tax year with a fixed rate depending on which year you left the scheme.

The list of historical GMP fixed revaluation rates is shown below:

Date of leaving service	Increase (% per annum)
Date of leaving service 6th April 1978 to 5th April 1988	Increase (% per annum) 8.50
Date of leaving service 6th April 1988 to 5th April 1993	Increase (% per annum) 7.50
Date of leaving service 6th April 1993 to 5th April 1997	Increase (% per annum) 7.00
Date of leaving service 6th April 1997 to 5th April 2002	Increase (% per annum) 6.25
Date of leaving service 6th April 2002 to 5th April 2007	Increase (% per annum) 4.50
Date of leaving service 6th April 2007 onwards	Increase (% per annum) 4.00

After your pension comes into payment

Your pension will increase on 1^st January each year in line with the increase in the RPI, up to a maximum of 5% (previous increases shown in table below), with a proportionate increase at the 1^st January immediately after your pension commences. If your pension commences after 1 October and you are not a Bradford member, it will not be increased in the January following when you start to draw your pension, however a proportionately higher increase will be paid in the next January.

The RPI is measured over the 12 months to the immediately previous September. If the increase in RPI is less than 1% no increase will normally be applied, this does not apply to Bradford members. The increase for ROI members is based on the ROI CPI instead – further details are available from the Pensions Administration Team.

Increases paid by the Scheme apply to the whole Scheme pension before the age at which any GMP becomes payable. Once female members reach age 60 and male members reach age 65, the GMP would become payable and the pension in payment would normally be split into two parts:

• Guaranteed Minimum Pension (GMP)
• any excess pension above the GMP

State Pension Age before 6^th April 2016

For the GMP that you built up prior to 6^th April 1988, any increase due to the GMP part of your pension will be paid by the State and, if due, will be paid along with your normal State Pension when it comes into payment. The Government calculates these increases using Consumer Prices Index (CPI).

For the GMP that you built up between 6^th April 1988 and 5^th April 1997, the Scheme continues to pay any increase that the Government calculates to be due up to 3%. These increases will be applied in April each year. For Bradford members, this element is increased at 3% fixed each year,

Any increase which the Government calculates to be due above 3% will be payable by the State when your state pension is in payment. The Government calculates these increases using CPI over the 12 months to the immediately preceding September.

This leaflet explains how State Pension increases work in relation to the Scheme if you reached SPA before 6^th April 2016:

Description	File size	Date	Download
Description: SALPS - Impact of Contracting Out on State Pension increases (SPA pre April 2016)	File size: 169KB	Date: 18th November 2019	Download: Download

State Pension Age on or after 6^th April 2016

If your State Pension Age is after 5^th April 2016 then the State will not increase the GMP elements that we do not increase.

This leaflet explains how State Pension increases work in relation to the Scheme if you reached SPA after 5^th April 2016:

Description	File size	Date	Download
Description: SALPS - How it Works: State Pension (SPA on or after April 2016) - September 2019	File size: 67KB	Date: 13th November 2019	Download: Download

Previous pension in payment increases applied to UK pensions on each 1^st January (for excess pension above the GMP)

Year	% increase
Year 1988	% increase 4.2
Year 1989	% increase 5.9
Year 1990	% increase 7.6
Year 1991	% increase 10.0
Year 1992	% increase 4.1
Year 1993	% increase 3.6
Year 1994	% increase 1.8
Year 1995	% increase 2.2
Year 1996	% increase 3.9
Year 1997	% increase 2.1
Year 1998	% increase 3.6
Year 1999	% increase 3.2
Year 2000	% increase 3.0
Year 2001	% increase 3.3
Year 2002	% increase 1.7
Year 2003	% increase 1.7
Year 2004	% increase 2.8
Year 2005	% increase 3.1
Year 2006	% increase 2.7
Year 2007	% increase 3.6
Year 2008	% increase 3.9
Year 2009	% increase 5.0
Year 2010	% increase 0
Year 2011	% increase 4.6
Year 2012	% increase 5.0
Year 2013	% increase 2.6
Year 2014	% increase 3.2
Year 2015	% increase 2.3
Year 2016	% increase 0
Year 2017	% increase 2.0
Year 2018	% increase 3.9
Year 2019	% increase 3.3
Year 2020	% increase 2.4
Year 2021	% increase 1.1
Year 2022	% increase 4.9
Year 2023	% increase 5.0
Year 2024	% increase 5.0
Year 2025	% increase 2.7