RM Pension increase

[windermeredave]

Can anyone in the know inform me when and if my RM pension will increase in the future, and how it is worked out?
it seems like we haven`t had a rise for something like 2 years.

[RobertT]

Increases are implemented from April each year based on the rate of inflation in October(I think) the previous year.

The exact formula is quite confusing, as with everything Royal Mail, and will depend on which section of the RMPP you’re a member of. But the full explanation of how it’s increased can be found in the library section of the pensions website.

[windermeredave]

Well we are coming up to the end of the tax year and still no word on a increase.

[fly-catchers]

The CPI in September (which is the month they use) was 1% and the RPI was 2%. Section B members use CPI and Section C members use a CPI on the GMP section of the pension. And RPI on the remainder of the pension.

[blacklake]

Had no increase last year for the first time in 12 years heard nothing as yet on this year but not holding my breath as I feel if they can get away with it ,it will be another big zero

[fly-catchers]

Had no increase last year for the first time in 12 years heard nothing as yet on this year but not holding my breath as I feel if they can get away with it ,it will be another big zero

Guess you are section B? The CPI used for last years pension is based on what it was in September 2015. At that point is was a big fat zero. Which equals no increase. However last September (2016) it was a marvellous 1% So you will get a 1% increase in April. There was also confirmation of an increase in the Courier Comic which I got today.

[windermeredave]

Got my letter today confirming the rise, a whopping £6 a month before tax

[nataddick]

I am a Section C member and have now had confirmation that my pension increase is 2% from both RMPP and RMSPS which is consistent with RPI in September last year.