News updates

Pensions are constantly evolving and there may be changes that affect your membership, so it’s important to keep up to date with what’s happening.

2021 pension increase

Apr 19, 2021, 23:00 by User Not Found

News about your Scheme pension increase for the 2021- 2022 tax year

For the 2021/22 tax year, your Scheme pension will increase by up to 1.1%. A proportionate increase will apply if you have been in receipt of pension for less than 12 months. The increase will be applied to your pension payments from 1 April 2021.

We have sent letters explaining your pension increase to those who are eligible for an increase. In some cases, these may arrive after your pension payment date.

Your Scheme pension is reviewed every year. It increases in line with orders published by the government, and is matched to the Retail Prices Index (RPI) figure from the previous September.

Changes to your bank details

If you change the bank or building society account your pension is paid into, you must tell the Scheme administrator about your new account details at least 10 days before your pension is due.

If you can’t give this much notice, you should keep your old bank account open to avoid any payment delays.

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You can find out more about the latest developments affecting your Scheme pension in your member newsletter.

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