RMSPS... Are these figures wrong

[Hawkey99]

Hi all,

I have received my wife RMSPS pension statement but to me if looks a little wrong.

2020 NRA 60 £2573.48 + £575.28 (Supp) + £53.53 (Increase) = £3202.29
2021 NRA 60 £2573.48 + £575.28(Supp) + £69.27 (Increase) = £3218.03

Should it Be £3202.29 (2020 figure) + £69.27 (2021 increase) = £3271.56

Have I got this correct. Many thanks

[NorthernBoy]

Hi all,

I have received my wife RMSPS pension statement but to me if looks a little wrong.

2020 NRA 60 £2573.48 + £575.28 (Supp) + £53.53 (Increase) = £3202.29
2021 NRA 60 £2573.48 + £575.28(Supp) + £69.27 (Increase) = £3218.03

Should it Be £3202.29 (2020 figure) + £69.27 (2021 increase) = £3271.56

Have I got this correct. Many thanks

No, you are not correct.

The increase figure is always shown as a cumulative figure. The real yearly increase in her pension is £16

[Hawkey99]

Thanks Northern.

Appreciated.

[Hawkey99]

Surely £16 is less than the rise last year ?

[RobertT]

The £16 represents an increase of 0.5% which was the rate of CPI in September 2020.

[Hawkey99]

Thank you. She is Section C.

Is that CPI OR RPI before being claimed ?

[NorthernBoy]

Thanks Northern.

Appreciated.

Your welcome.

Better increase next year, should be about £100 based on this Septembers cpi figure of 3.1%

[RobertT]

Thank you. She is Section C.

Is that CPI OR RPI before being claimed ?

Section C inflationary increases are:

Deferred/preserved members - CPI
Active & pensioner members - RPI

DBCBS(regardless of employment status) - a maximum of CPI + 4%