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How are 'statutory' pre-retirement DB increases calculated?
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So it might apply GMP increases on each 6th April up to age 59 or it might be for each complete tax year between leaving and age 59 (i.e. one less).
Thank you Snowman. I temporarily went a little off course there.
I've checked my paperwork, which informs me that GMP is increased by 8.5% p.a. at each 6th April, except for that immediately preceding GMP age.
That tallies with various statements received over the years.0
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