The good news is, your pension is index-linked to protect it from increases in the cost of living. The increases are paid in April, on the same date as increases in state social security benefits. They’re based on figures provided by HM Treasury.
Preserved pensions and lump sums are also increased so that they keep their value. Pensions Increase also applies to pensions paid by the Teachers’ Pension Scheme to widows, widowers, nominated partners, civil partners, children and dependants.
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