Pensions increase

Deferred pensions go up by 3.1% in 2022

The 3.1% increase on deferred benefits is due from 6 April 2022. This increase is based on the value of the Consumer Prices Index on 30 September in the previous year.

If you left your job part way through the year you won’t get the full increase straightaway. Increases on your deferred benefits usually start building up from the day after the date you left the pension scheme. You’ll start to get the full increase from next year.