Final Salary pensions will increase by 2.7% from 1 April 2025, in line with the Retail Prices Index for September 2024.

Proportionate increases will be applied to any Final Salary pensions that came into payment on or after 2 April 2024.

Different increases will be applied to parts of your Final Salary pension if you are above the Guaranteed Minimum Pension (GMP) age.

Railpen will issue pension increase letters in April confirming your annual increase, which will take effect from 1 April 2025.

If you’re a member of the reformed SLC category, please bear in mind that this increase only applies to the Final Salary element of your benefits.

Your CARE pension will increase by 1.7% from 1 April 2025, in line with the Consumer Price Index for September 2024. 

The same increase applies regardless of when you retired.

You will also receive confirmation of your CARE increase in your letter from Railpen.