You may have seen the level of price inflation in the UK has reached the highest level in 40 years. How this affects your benefits depends on when you built them up and whether you have already drawn your pension.
Most Scheme pension benefits are linked to inflation and will increase when inflation is higher. The increases vary depending on when each element of your pension was built up and the section of the Scheme you are a member of.
Most Scheme pension increases are linked in some way to the increase in the Consumer Price Index (CPI) but with the maximum increase capped. You can find out more details in the retirement guides available on the scheme documents page.
You can learn more about inflation and what it means for your retirement planning at: www.moneyhelper.org.uk/en/savings/how-to-save/inflation-whatthe-saver-needs-to-know
If you are unsure about the level of increase that applies to your pension payments, please contact the Scheme administrator.