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Annual pension increase for pensions in payment

Posted on: 13/04/2022

The details of the pension increases applied from 1 April 2022 are now available to view and you’ll have recently received a letter confirming how this has been applied to your pension.

The change in the Retail Prices Index (RPI) over the 12 months immediately preceding the previous September was 4.9%. More information on the increases applied can be found using the link below.

View details of the pension increases by section

Pension members tax code issue

In March we let you know that some members receiving a pension from the Fund may have had their tax code changed in error.

HMRC have confirmed they’re in the process of resolving the matter. The correct tax codes are starting to be issued and will be applied to members pensions.

Once your tax code has been corrected with HMRC, they will reimburse you any overpaid tax either through your pension or as a one-off payment depending on your personal circumstances.