Civil Service Classic Pension Deferred

John100_2

My wife worked for the civil service for 14 years to 1984 @ which time she was given a deferred pension of £1149 pa & a lump sum of £3447, payable @ age 60.

Now, aged 54 she has requested a statement, actuarially reduced for payment now.The pension has reduced to £848 & the lump sum to £2886.

Why have no RPI increases been taken into account over the intervening 25 years? The only clause we can see in the 25 year old booklet she has is when talking about pension increases: "The purchasing power of preserved pensions & lump sums are similarly maintained & higher cash amounts can be paid when they are brought into payment (provided the person concerned is then over the age of 55)"

If she waited another year would the amounts be increased to take into account the 25 years RPI increases?

Any advise gratefully received.

sleepless_saver

As far as I know, RPI increases are not payable if you take the pension before the age of 55. But when you hit the next pension increase date after becoming 55 the pension is uprated by the RPI increases you have missed. From then on it will change as you would expect, with annual uprating.

But this is too important to take my word for it. Get it in writing from the scheme administrators.;)

Gorgeous_George

Try this site (link).

It says:

You can also view the current value of your pension benefits by registering with the pensioner website. Please visit www.csp.capitahartshead.co.uk for further details.

and

For information about your scheme, see the scheme guides section and our publications page.

GG