Pension increases with inflation

[roadrunner bill]

Hi,
I was wondering, does section c pension that closed in 2012 and then the 2012 to 2024 pension.

If you have not yet taken these pensions yet, they increase with inflation..

Does that mean your pension pot is still increasing in value ?

Meaning when I take my pension I'll have these inflation increases in my pension ?

Thank you.

[RobertT]

Yes, your pensions increase with inflation every year until you take them, and afterwards while in payment.

If you check your previous annual statements, you should be able to see your benefits have gone up over the years despite you not actually paying into the pension element since 2012 for RMSPS and 2018 for RMPP.

The DBCBS, which you accrued 2018-2024 goes up with an amount decided by the company, but the formula for that is also based on inflation.

[roadrunner bill]

Thank you..

[fitz15]

If you take your pension say 55 do you still receive yearly increases in your pension from 55

[RobertT]

If you take your pension say 55 do you still receive yearly increases in your pension from 55

Yes you still get the same percentage increases, but because your pension will be lower as a result of taking it early, the increases in money terms, will be also be lower.

[fitz15]

Thanks Robert.