Not received your pack yet?
Your pension benefits increase every year to help them keep up with inflation and you will receive a letter each September to tell you your personal increase for the year ahead. Pensions in payment and deferred pensions in excess of the Guaranteed Minimum Pension (GMP) will be increased on each 1 October in line with the change in the Retail Prices Index (RPI) up to 5% per annum.
If you have a GMP element to your pension, because you were contracted-out of the Additional State Pension when you were an active member of the Plan, you may receive an increase in April too. Both increases are included in the letter you receive in September.