Pension increases before you retire

While you are building up DB Career Average Plan pension

Whilst you are (or were) building up DB Career Average Plan pension, it is revalued each year to keep up with inflation. The increases applied to keep up with inflation are set out below:

If you built it up… It increases…
Before 30 September 2021

Each year by the increase in the Retail Prices Index but capped at 5%

From 1 October 2021

Each year by the increase in the Consumer Prices Index but capped at 5%

More details of how DB Career Average Plan pension builds up is set out in Your pension details.

After you stop building up DB Career Average Plan pension

The way your DB Career Average Plan increases over the whole period from when you stopped building up pension to the earlier of your retirement date or age 65 depends on when you built it up.

If you built it up… It increases…

Before 6 April 2009

By the higher of:

  • The increase in the Retail Prices Index over the whole period capped at 5% for each year for the whole period.
  • The same increases as when building up DB Career Average Plan pension as explained above.

6 April 2009 to 30 June 2012

By the higher of:

  • The increase in the Retail Prices Index over the whole period capped at 2.5% for each year for the whole period.
  • The same increases as when building up DB Career Average Plan pension as explained above.

1 July 2012 to 30 September 2021

By the increase in the Retail Prices Index over the whole period capped at 2.5% for each year over the whole period.

From 1 October 2021

By the increase in the Consumer Prices Index over the whole period capped at 2.5% for each year over the whole period.
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