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    • westv
    • By westv 10th Jul 18, 3:33 PM
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    westv
    PPF Annual Increase
    • #1
    • 10th Jul 18, 3:33 PM
    PPF Annual Increase 10th Jul 18 at 3:33 PM
    Just had my latest estimated pension statement from the PPF for pre April 1997 service (claiming from 2023). The increase is around 67 on last year ( 4,334). Increases are based on CPI.
    Does that sound about right? Seems on the low side to me.
Page 1
    • westv
    • By westv 12th Jul 18, 1:41 PM
    • 4,560 Posts
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    westv
    • #2
    • 12th Jul 18, 1:41 PM
    • #2
    • 12th Jul 18, 1:41 PM
    I'm surprised nobody knows.
    • Deneb
    • By Deneb 12th Jul 18, 2:34 PM
    • 321 Posts
    • 253 Thanks
    Deneb
    • #3
    • 12th Jul 18, 2:34 PM
    • #3
    • 12th Jul 18, 2:34 PM
    Well, I confess to knowing nothing about it, but intrigued by your question and after a bit of googling, it appears that for a deferred member (which I assume you are from your question) it is more complex than a simple CPI increase and involves calculation of revaluation periods and revaluation factors:

    http://www.pensionprotectionfund.org.uk/DocumentLibrary/Documents/PPF_Revaluation_Guidance.pdf

    Though as I say, I know nothing about it other than finding that document!
    • xylophone
    • By xylophone 12th Jul 18, 4:09 PM
    • 25,761 Posts
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    xylophone
    • #4
    • 12th Jul 18, 4:09 PM
    • #4
    • 12th Jul 18, 4:09 PM
    Do you have a GMP?

    Is it possible that the revaluation is not being applied to that portion of your pension?

    Have you rung the PPF to enquire?

    http://www.pensionprotectionfund.org.uk/Pages/ContactUs.aspx
    • westv
    • By westv 12th Jul 18, 4:30 PM
    • 4,560 Posts
    • 2,146 Thanks
    westv
    • #5
    • 12th Jul 18, 4:30 PM
    • #5
    • 12th Jul 18, 4:30 PM
    Everything I've read before states that, prior to payment, deferred pensions for service prior to April 97 that were under the PPF increase by CPI or 5% (whichever the lower).
    • HappyHarry
    • By HappyHarry 12th Jul 18, 4:49 PM
    • 676 Posts
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    HappyHarry
    • #6
    • 12th Jul 18, 4:49 PM
    • #6
    • 12th Jul 18, 4:49 PM
    Everything I've read before states that, prior to payment, deferred pensions for service prior to April 97 that were under the PPF increase by CPI or 5% (whichever the lower).
    Originally posted by westv
    I would expect that to be the case.

    Do you know what date they look at the CPI, and when the increase is applied?
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
    • xylophone
    • By xylophone 12th Jul 18, 4:50 PM
    • 25,761 Posts
    • 15,220 Thanks
    xylophone
    • #7
    • 12th Jul 18, 4:50 PM
    • #7
    • 12th Jul 18, 4:50 PM
    You have statements from previous years?

    To which month in the year does the CPI relate?
    • westv
    • By westv 12th Jul 18, 8:47 PM
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    westv
    • #8
    • 12th Jul 18, 8:47 PM
    • #8
    • 12th Jul 18, 8:47 PM
    The increase is around 1.54% but the CPI hasn't been that low at all this year. I'll ask them.
    • westv
    • By westv 14th Jul 18, 3:13 PM
    • 4,560 Posts
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    westv
    • #9
    • 14th Jul 18, 3:13 PM
    • #9
    • 14th Jul 18, 3:13 PM
    I've been able to dig out the following:

    01/10/14 4,184
    01/10/17 4,334
    06/07/18 4,401
    • HappyHarry
    • By HappyHarry 15th Jul 18, 1:51 AM
    • 676 Posts
    • 968 Thanks
    HappyHarry
    The increases seem to be lower than CPI.

    If you speak to them, please could you come back and let us know what they say?
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
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