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Pensions increase

Under rules set by the government, your benefits are increased each year in line with the increase in the consumer prices index (CPI). Before 2011, this was in line with the retail prices index (RPI). The rate does not reflect the performance of the Warwickshire Pension Fund. The increase applies to you whether you are a deferred member, a pensioner member, or one of their dependants.

If you are in receipt of a pension, it will be increased each April if you:

  • are aged 55 or over; or
  • retired on ill health grounds; or
  • are receiving a widow's, widower's, partner's or child's pension

If you don't fall into one of these groups, your pension will still attract the increase, but it will not be paid until your 55th birthday.  In this case, please note that arrears of Pensions Increase prior to age 55 are not payable to you.

If you have a deferred pension, pensions increase will be applied to your pension during its period of deferral. This will be shown on your annual benefit statement issued by Warwickshire Pension Fund.

After your deferred benefit is bought into payment, it will attract increases as shown above.