Once you’re receiving your pension from DB Core and/or DB CorePlus, it increases each year to help the value of it keep pace with inflation. The Fund increases your pension built up in DB Core and DB CorePlus each year on 6 April in line with the rise in the consumer price index (also known as CPI), up to a maximum of 2.5% a year. If you have been retired for less than a year, the increase to your pension will be a proportion of the full increase based on the number of days between your date of retirement and the date of the increase. Once the pension has been paid for more than a year you will receive the full increase from 6 April each year.

If you choose to use your DC Start or DC Core account to provide a pension by buying an annuity, any increases your pension will receive will depend on the options you choose when you buy your annuity as well as your annuity provider.