NGUKPS pensions will increase by 2.7% from Monday, 7 April 2025, in line with the Retail Prices Index for September 2024.
If you’re a man under the age of 65, or a woman under age 60 at the increase date, your whole pension will be increased by this amount.
However, if you’re a man over age 65, or a woman over age 60, your Scheme pension is likely to include what’s known as a Guaranteed Minimum Pension or GMP. Different increases apply to the GMP part of your pension and depending on when you reached, or will reach, State Pension age, some increases to your GMP may be paid by the State.
A pensions increase letter will be sent to you in April 2025, confirming the annual increase and explaining how this has been applied in your case.
December 2024