Pension Increase
Your annual pension is increased each year. The pension increase takes effect on the first Monday in the new financial year. The increase is based on the Retail Price Index (RPI) as at the previous September.
You will be sent a pension payslip in April to show this increase and another payslip in May to show any tax changes. We do not send you payslips for the rest of the financial year unless your pension amount changes by £5 or more.
This year's increase is 3.9% and the increase date is 7th April 2008.
You may not always receive the full increase. This could be because you have not been retired for a year, in which case you will receive a proportion of the increase. The following table gives a breakdown:
Pensions Beginning |
Pensions Increase |
|---|---|
Before 23 April 2007 | 3.90% |
23 April 2007 to 22 May 2007 | 3.58% |
23 May 2007 to 22 June2007 | 3.25% |
23 June 2007 to 22 July 2007 | 2.93% |
23 July 2007 to 22 August 2007 | 2.60% |
23 August 2007 to 22 September 2007 | 2.28% |
23 September 2007 to 22 October 2007 | 1.95% |
23 October 2007 to 22 November 2007 | 1.63% |
23 November 2007 to 22 December 2007 | 1.30% |
23 December 2007 to 22 January 2008 | 0.98% |
23 January 2008 to 22 February 2008 | 0.65% |
23 February 2008 to 22 March 2008 | 0.33% |
If you retire before age 55 you will not receive an increase until your 55th birthday. More information on this can be found on our efficiency and redundancy pages.
Wiltshire Pensions Fund, County Hall,Trowbridge, Wiltshire, BA14 8JJ.
© 2007 Wiltshire Pension Fund.