YOUR PAST
Your Future
for members with Preserved Benefits
is
September 2013 Issue 15
BENEFITS Increase by 2.2% from 8th April 2013
Your Preserved Benefit is reviewed each April so that it keeps pace with the cost of living. The amount of Pensions Increase is based on an index specified by the Government and is based on the change in the Consumer Prices Index in the 12 month period up to the end of the previous September. The increase of 2.2% has been applied to Preserved Benefits from 8th April this year. Did you leave the Scheme after 22nd April 2012?
If you did, you don’t get the full increase this year. You’ll start to get the full increases from next year. See the table below for details: Date of leaving the Scheme 23 Apr ‘12 to 22 May ‘12 23 June ‘12 to 22 July ‘12 23 July ‘12 to 22 Aug ‘12 23 Aug ‘12 to 22 Sept ‘12 23 Sept ‘12 to 22 Oct ‘12 23 Oct ‘12 to 22 Nov ‘12 23 Nov ‘12 to 22 Dec ‘12 23 Dec ‘12 to 22 Jan ‘13 23 Jan ‘13 to 22 Feb ‘13 23 Feb ‘13 to 22 Mar ‘13 23 Mar ‘13 onwards Increase 2.02% 1.83% 1.65% 1.47% 1.28% 1.10% 0.92% 0.73% 0.55% 0.37% 0.18% nil
23 May ‘12 to 22 June ‘12
2.2%
If you left on or after 23rd March 2013 you will see from the table that your increase is nil. You will receive your first annual statement and cost of living increase next year. If you receive more than one preserved benefit statement this is because you have more than one preserved benefit in the Fund. The total of your benefits at
2.2%
retirement will be the total of all statements added together. If you are currently paying into the Scheme through a separate employment in the Fund you will also receive a Pension Forecast statement.