Your pension

When you retire, your pension will be based on the following set formula:

1/60 (accural rate)

years of service in the Scheme (pensionable service)

your pay (pensionable salary)

Total pension from the Scheme

The changes implemented with effect from 1 April 2014 placed an annual cap on increases to the salary used to calculate your pension from 1 April 2013 onwards at the lower of:

  • 3%; or
  • the annual increase in the Retail Prices Index (RPI)

Capped Pensionable Salary is also used to calculate pension from any service you have transferred into the Scheme since 1 April 2014 and for Added Years contracts started since 1 April 2014.

Deferred pensions are calculated at your date of leaving and increased by the Retail Prices Index each year to make sure they keep up with inflation.

Cookie control centre

We use cookies to provide you with a better service. Essential cookies provide core functionality and you cannot use the website without them. Essential cookies do not collect any personal information or track your activity on the website. Other cookies, such as Analytic cookies and Functionality cookies, are not essential. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary

Always Active

Name: preference_cookie

Provider: Cadent

Duration: 3 Years

Type: First Party Cookies

Name: winter_session

Provider: Cadent

Duration: 2 Hours

Type: Session Cookies

Name: _visited

Provider: Cadent

Duration: 1 week

Type: First Party Cookies

Performance Cookies


Name: _gat_gtag_UA_175173443_1

Provider: Google

Duration: 1 Minute

Type: Analytics Cookies

Name: _gat

Provider: Google

Duration: 2 days, 5 hours, 46 minutes

Type: Analytics Cookies

Name: _ga

Provider: Google

Duration: 2 years, 1 day, 5 hours, 46 minutes

Type: Analytics Cookies

We use cookies to enhance your website experience and to allow us to customise the content you see.