Your pension

Pension increases

Scheme pensions are reviewed in April each year and increased in line with the percentage increase in the Retail Prices Index (RPI) for the 12 months up to the previous September. 

For 2024, the main annual pension increase was 8.9%, applied effective from Monday 8 April 2024. This was in line with the increase in the RPI for the 12 months to September 2023. 

If you built up pension in the Scheme between 6 April 1978 and 5 April 1997, you may have a Guaranteed Minimum Pension (GMP) element to your pension, which is increased at a different rate.