If you’re currently receiving a pension from the Plan, you should have received a pack through the post relating to Guaranteed Minimum Pension (GMP) Equalisation.

A pension scam is where someone is tricked by criminals into handing over their pension savings. You must look out for pension scams to protect your hard-earned pension income. Pension scams have been increasing in numbers and sophistication since the introduction of pension flexibilities in 2015.

If you’re a deferred member of the Plan, your pension may continue to increase each year in line with Trust Deeds and Rules.

Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the last year due to high inflation.

If you paid Additional Voluntary Contributions (AVCs), these are held in a separate account and can be used to provide additional benefits at retirement.