Civil service pension

Tayloriw1

I have a civil service pension since May last year, it is index linked so wondered if anyone knows what the % rise will be as of today ?

mgdavid

If you don't know already, you need to check the rules for your part of the pension scheme to find out the basis of the annual increase, is it RPI or CPI?
Having ascertained that, you can easily google to find out what the current rates of RPI and CPI are.
(always assuming 6April is the correct date for annual increase).

hyubh

Tayloriw1 wrote: »

I have a civil service pension since May last year, it is index linked so wondered if anyone knows what the % rise will be as of today ?

Whatever the CPI rate was for September last year, which happened to be 1.2%:

http://www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/september-2014/index.html

https://www.gov.uk/government/publications/public-service-pensions-increase-2015

Tayloriw1

Thanks found it it is 1.2 per cent

mgdavid

hyubh wrote: »

Public sector pensions are increased according to the CPI rate of the previous September ('Pensions Increase' with a capital P and I).

sorry to sound dense but how is that relevant?
(Price Index with a capital P and a capital I)

hyubh

mgdavid wrote: »

sorry to sound dense but how is that relevant?
(Price Index with a capital P and a capital I)

All DB schemes will have a pensions increase exercise every year to revalue both pensions in payment and deferred pensions; during their pensions increase exercise, public sector scheme administrators will apply Pensions Increase specifically however.

Goldenyears

Tayloriw1 wrote: »

Thanks found it it is 1.2 per cent

If your pension came into payment in May 2014 it will be slless than 1.2% this year.

CS pensioners who were in payment well before MyCSP took over from Capita have probably noticed nothing unusual until now. The letter that informs you of the annual increase did not arrive in February as usual and I am still waiting.

Tayloriw1

golden years, thanks it actually started 26 April last year but took them few months to actually sort paying it,, I haven't had one of those letters but I must admit they are not the best people to deal with, so probably get the letter in December

CathA

Goldenyears wrote: »

If your pension came into payment in May 2014 it will be slless than 1.2% this year.

CS pensioners who were in payment well before MyCSP took over from Capita have probably noticed nothing unusual until now. The letter that informs you of the annual increase did not arrive in February as usual and I am still waiting.

If it's any help, I didn't get my annual pension statement from CS in January as normal. I'm a deferred member, by the way. When I rang them to ask (MyCSP, that is) they said that deferred members, and I think(?) retired members will now get an annual statement in April every year from now on. I know that current CS members still working for CS still get their statements on their birthday as previously.

Hth.

nik0510

Since taking voluntary redundancy two years ago I haven't received a pension forecast at all, I know I am not at pensionable age should I still get one then?
Thanks nik0510

xylophone

http://www.civilservicepensionscheme.org.uk/members/deferred/