Gauranteed pension

xylophone

Sorry post 88

It is possible that your scheme pays a flat 3% annually on the post 88 GMP but  you should check this out.

https://techzone.abrdn.com/public/pensions/Tech-guide-guaranteed-min-pen#:~:text=Increases provided by the scheme,not have to be increased

GMP increases can sometimes be provided by the scheme, the State or a combination of the two.

Increases provided by the scheme
The level of increase that the pension scheme itself is responsible for providing depends on when the GMP was built up:

• GMP built up between 6 April 1988 and 5 April 1997 must increase in line with prices, capped at 3%
• GMP built up before 6 April 1988 does not have to be increased

Bear in mind that the rules of some occupational pension schemes might promise pension increases that are better than the minimum that the law requires.

If CPI were only (say) 2%, would you still get 3%?

What exactly do you mean by

Arrears immediate annual. 

Silverbird65

They say 3% for anything post 88 guaranteed . We just think we haven't taken it as we could have last July thinking he retires this year and is working we waited. Then the cost of living we t crazy and the lump sum is dropping. Just considering options. It's so little. 
Thanks