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Every year, the government issues a legal document called a ‘Pensions Increase (Review) Order’. The order tells public-sector pension schemes like WYPF what the annual increase to pensions is. This year, the increase is 3.1%. As usual, the increase is based on the rise in the cost-of-living in the year up to last September. It’s due from April 11th this year.

How do we work out the increase?
If you get the increase, your April pension advice will show exactly how your increase is worked out.
The Basic Pension this month shown on your April pension advice will actually be the full new monthly rate. But you don’t get this until April 11th, so the adjustment shown will adjust your April pension for the 10 days at the old rate, from April 1st to April 10th.

Here's an example to show you how it works. The example is based on a pension of £200 per month. With the full 3.1% increase, the new monthly pension will be £206.20 per month. (If you retired in the last year, check the table below to see how much your increase will be.) So the March, April and May amounts will be as follows.

Are you under age 55?
If you are, you will probably get the increases earlier than age 55 if you become permanently unfit to do any work. If this doesn't apply to you, on your 55th birthday we’ll bring your pension up to the amount it would be if you had received all the increases from the date you retired.

Did you retire after 26 April 2004?
If you did, you don't get the full increase this year. You'll start to get the full increases from next year. This table tells you what the increase is if you retired after 26th April.

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