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Your benefits

Find out more about your pension benefits.

Annual pension review

Each year your pension is reviewed to make sure its value keeps up with price inflation. We will write to you and let you know whether your pension will rise for the coming year.

Any pension you built up from service after 5 April 1997 will increase in line with the Retail Prices Index, up to a maximum of 5% a year.

If you were a member of the Scheme before 6 April 1997, or you transferred in benefits from a previous employer’s scheme, you might also have a Guaranteed Minimum Pension (GMP) part of your pension.

Death benefits

If you die within five years of retiring, your dependants will receive a cash sum. This will be calculated by multiplying your monthly pension at the date of your death by the number of payments remaining in the five-year period.

If you die after retirement, your spouse or civil partner could receive a pension for life of two-thirds of your pension, calculated before any reduction if you took tax-free cash at retirement.

Your dependent children could also be eligible for a pension of 10% of your pension (subject to a minimum of £600), calculated before any reduction for any tax-free cash you took at retirement (up to a maximum of four children). If there is no surviving spouse, the Trustees may at their discretion double the amount of benefit.