Open the drop down boxes below to read about the increases and bonuses applied to your pension.
Annual Deferred Pension Increases
Your Scheme pension is made up of a number of parts, which increase differently:
- Guaranteed Pension: increases on 1 January each year based on the change in the Retail Prices Index (RPI) in the 12 months to the previous November.
- Bonus: does not increase.
Bonuses were awarded to members from their 50% share of surplus between 1995 and 2019. This is a flat-rate bonus that will neither increase or decrease.