Questions about the 2015 Pension Increase
Will the full increase be applied to my pension in April 2015?
No. Your pension is increased part way through April - on the 6th this year.
The payment for April will be the combination of two different annual rates. The first of these is the rate that applies from the 1st of the month to the 5th; the second is at the increased rate that applies from the 6th to the 30th.
The full increase of 1.2% will apply from May 2015.
My pension has been in payment for less than a year. Will I receive the full annual increase in 2015?
No. Only pensions that have been in payment for at least a year will receive the full increase. Any pension which has been in payment for less than a year will be increased by a proportionate amount depending upon the number of months it has been in payment.
I am under age 55, why hasn’t my pension been increased?
If you are under age 55, your pension will only be increased if you retired on grounds of ill health, or if your deferred pension was brought into payment early because of ill health and you are permanently incapacitated from engaging in any regular full-time employment.
At 55 it will increase to the level it would have been, had it been increased every year since your date of leaving.