Increases to Pensions

...helping deal with the effects of inflation

When you leave but keep your Deferred Pension in the Scheme, it may be some time before you actually come to retire. The effects of inflation would reduce the real value of your pension so the Scheme applies annual increases to your Deferred Pension until the time you actually retire (or, if earlier, die). Please note that increases, in particular pre-retirement increases, do not apply to all members.

There are differences in how your pension is increased depending on whether your pension accrued before or after 1st January 2006. In addition, the way your pension increases before and after your pension comes into payment also differs.

Important note: If you are a member of the Republic of Ireland section of the Scheme, please contact the Pensions Administration Team for details about your pension increases.