How my pension increases before retirement.

When you stopped earning benefits in the Scheme, we worked out how much pension you had built up. We call this a preserved pension because you keep it in the Scheme until you decide to take it.

Between the date you stopped earning benefits and the date you take your benefits your pension increases as set out in the Scheme Rules. This is to help it keep pace with price inflation. The actual increases that apply may not be equal to the rise in inflation and will depend on:

  • the Rules that apply to your period of Scheme membership
  • the type of pension you had built up
  • the rise in inflation between when you stopped earning benefits and when you take your pension.

The different parts of my pension.

Your pension may have more than one part to it, and a different increase will apply to different parts. When we calculate the increases, we break your pension down into its different parts and increase them separately before adding it all back together again. We’ve provided an explanation of each part that may apply to your pension below.

You can find out how much your pension was at the date you left the Scheme and how much it might be at your chosen retirement date by logging in to your pension account on the Portal. If you’ve not used the Portal before or need help, go to Manage my pension online.

Guaranteed Minimum Pension (GMP)

This the minimum amount of pension built up before 6 April 1997 that the Trustee must pay you in place of the Additional State Pension. The increase applied depends on the date you left, and the annual rate of increase set by the Government. It increases from the date you stopped earning benefits to age 60 (women) and age 65 (men), or when you take your pension (whichever is earliest).

Scheme Pension

This is the pension that isn’t GMP and doesn’t come from a transfer in. It increases by inflation (the Consumer Price Index) up to the limits described below until you take your pension.

Pensionable service

Maximum increase allowed

Before 6 April 2009


After 6 April 2009


Added Years Additional Voluntary Contributions

If you paid Added Years Additional Voluntary Contributions, the additional pension you’d built up will be treated as a Scheme Pension and increased in the same way.

Transferred-in benefits

Increases to any pension you transferred into the Scheme depend on the Scheme Rules at the date the transfer was completed and may not automatically receive an increase.