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Pension increases

Annual pensions in payment are guaranteed to increase from 1 October in line with the annual increase in the Retail Price Index (RPI) published in the preceding August, to a maximum of 5%.

Historic increases for the Fund for the last five years are shown here:

2022 increase: 5% from 1 October 2022

2021 increase: 3.8% from 1 October 2021

2020 increase: 1.6% from 1 October 2020

2019 increase: 2.6% from 1 October 2019

2018 increase: 3.2% from 1 October 2018

2017 increase: 3.6% from 1 October 2017

2016 increase: 1.9% from 1 October 2016

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