Deferred pensions go up by 1.7% in 2020
The 1.7% increase on deferred benefits is due from 6 April 2020. This increase is based on the value of the Consumer Prices Index on 30 September 2019.
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.
Will my pension increase in the future?
Your deferred benefits will be adjusted each April in line with the change in the Consumer Prices Index for the previous September. When you start getting your pension, it will be adjusted each year in this way too.