Published: 1 April 2022
The provisions for determining how pensions increase are set out in the Trust Deed and Rules. The increases applying from
1 April 2022 are as follows:
- Old Benefits: 7.5% (based on RPI for December 2021 or 10%, whichever is the lower) Old Benefits members who elected to participate in the PIE exercise receive future increases only on the non-exchanged element of their pension.
- New Benefits: 5.0% (based on RPI for December 2021 or 5%, whichever is the lower)
- CAB 2006: 2.5% (based on RPI for December 2021 or 2.5%, whichever is the lower)
- CAB 2011: 4% (based on CPI for December 2021 or 4%, whichever is the lower)
- A revaluation increase of 5.4% on 1 April 2022 to pensions built up to 31 March 2021 for active and deferred CAB 2006 members.
- A revaluation increase of 4% on 1 April 2022 to pensions built up to 31 March 2021 for active and deferred CAB 2011 members.