Pensions increase

The pensions increase to be applied to pensions in payment will be 0.5% for 2021. This will take effect from 12 April.

The pension increase is also used to revise other elements of the Scheme including maximum extra pension, restricted salary and maximum earnings for someone in receipt of a child’s pension.

Career average revaluation

The revaluation to be applied to benefits that are accruing in the Career Average arrangement is 2.1% for active members and 0.5% for deferred members.