Pension Increases
In the period January 2003 to January 2004, the increase in the Retail Prices Index was 2.6%. This percentage was applied with effect from 1 April 2004 to increase pensions and allowances in payment in the Scheme immediately before that date. The 2.6% increase will also be applied to pensions prospectively payable to Deferred Pensioners.
The annual pension increases for the last ten years are shown in the list below:
| 1995 |
3.3% |
| 1996 |
2.9% |
| 1997 |
2.8% |
| 1998 |
3.3% |
| 1999 |
2.4% |
| 2000 |
2.0% |
| 2001 |
2.7% |
| 2002 |
1.3% |
2003 |
2.9% |
2004 |
2.6% |