Pension cost of living increase

[thelastsuspect]

Hi, does anyone know when the cost of living increase will be payed? I am assuming it will be in April but have not had any notification from the pension plan.

[robking]

From April 1st.

For section C members there will be a rise of 5% because theirs rises by the RPI index the previous September but subject to a maximum of 5%. The RPI was above 5% so 5% is their increase.
Section A/B members will have a rise of 10.1% because their increase matches last September's CPI index and is uncapped.
RPI is usually a bit higher than CPI so A/B members have been doing worse than C members until this year but now they're going to do some catching up.

[thelastsuspect]

Many thanks.

[RobertT]

My understanding is that section A/B increases are capped at 5% aswell.

[jchewitt1967]

You are correct Robert T, I'm in the process of getting my pension and I'm in A/B , it's been confirmed by pensions that it's 5%.

[jchewitt1967]

You are correct Robert T, I'm in the process of getting my pension and I'm in A/B , it's been confirmed by pensions that it's 5%.

[robking]

My understanding is that section A/B increases are capped at 5% aswell.

It doesn't seem to say that in the scheme rules which are available here

https://www.royalmailsps.co.uk/support/useful-documents

Pages 54/55 deal with section A/B increases, page 83 for section C increases.

[Kevin.r.smith]

That’s how I read it as well

[deltaforce]

Capped at 5%

[Kevin.r.smith]

Where about does it say 5 percent for section B ?

[pj2001]

My understanding is that section A/B increases are capped at 5% aswell.

It doesn't seem to say that in the scheme rules which are available here

https://www.royalmailsps.co.uk/support/useful-documents

Pages 54/55 deal with section A/B increases, page 83 for section C increases.

Page 54/55 of what? Yep just got it, you'd have to be a Philadelphia lawyer to understand what the hell it's going on about though!!

[bigwheeler]

Hi

I have got my statment from through the post from Royal Mail pensions which has a increase of 9.9%.

No idea what the Capatia pension is going up by checked by logging in online with no joy.

I am a section B member so they appear to be not capping at 5%

Hope this helps.

[sam63]

Got my RMPP statement through for next year can confirm it has gone up by 10%, not got the RMSPS yet, also section B

[sam63]

Got my RMPP statement through for next year can confirm it has gone up by 10%, not got the RMSPS yet, also section B

[Reading1]

Hi, only started receiving my pension in Feb this year, can anyone confirm whether the annual increase is pro rate based on the months paid in the year just ending. Thanks.