Information packs were posted to all members on Monday 23 March, although we are aware that some of you may not have received yours yet. They are on their way to you but as the Royal Mail is struggling with double the level of absentees because of the Coronavirus, many places are experiencing delay in delivering packages that are larger than a normal envelope. This is why some of you will have received your introduction letter from WPS Advisory Ltd but not your packs. Please be assured that this does not mean they have been mis-directed or lost.

At present, the financial advice on offer is not affected by the Coronavirus. Please ‘phone WPSA if you would like a conversation about your pension options – even if you haven’t received the hard copy of your pack yet.

FIND OUT MORE ABOUT YOUR OPTIONS

Not received your pack yet?

Pension increases

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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.