CS pension % increase.

Turned_out_nice.

I recently left the Civil Service after 38.5 years and turned 55 early last month.
Most of my pension is on the classic scheme and 13 months on Alpha.
I'm not thinking of taking the pension yet but just wondering when the annual % increase is added (April I think) as and when I do take it, it may be worth my while taking it a few days after my birthday as the lump sum would be a little extra?
The Alpha won't be taken until I'm 67.

Many thanks.

Dazed_and_confused

I think you only get a proportion of the increase first time around (although it wouldn't affect you much having left so early in the tax year).

hugheskevi

I'm not thinking of taking the pension yet but just wondering when the annual % increase is added (April I think) as and when I do take it, it may be worth my while taking it a few days after my birthday as the lump sum would be a little extra?

I can never remember exactly when increases are applied to active, deferred and pensioner members - it ranges between 31st March and the first Monday after 6th April I think.

But it doesn't matter, as regardless of when you take the pension, increases due are applied pro-rata, so there is no particular date for which it would be best to wait until commencement.