Pensions increase

When is the increase due and how is percentage increase decided?
Your pension will be increased each year on the first Monday after the 5th April and will increase in line with inflation which is measured against price increases during the year ending the previous September.


What happens if there is negative inflation?
The good news is that your pension will not go down. However during a period of negative inflation your pension will not receive an annual increase.


Why has my pension not gone up by the full percentage increase?
If you are over state pension age and have scheme membership between April 1978 and April 1997 the increase to your pension will be split between the SYPA and your state pension.


Why have I received my April pension and have not received an increase? 
1. If you took early retirement (not including ill health) and you are under age 55 you are not due to receive it until your 55th birthday. We will write to you shortly before your 55th birthday to advise you of the increase to your pension. 

2. Occasionally we have to delay the calculation of pensions increase whilst we request guaranteed minimum pension (GMP) details. We would always write to advise of the delay and the measures we are taking to rectify the situation.

 

PI announcements for each year are available on the news section.

 

How are increases calculated

 

Increases from State Pension Age