DEFERRED PENSION - MEMBERS WHO HAVE NOT YET RETIRED

Members who have not yet retired have built up a deferred pension payable from Normal Retirement Age (NRA).

Any pre-1978 service credits will be included in the deferred pension.

The deferred pension is increased ("re-valued") between date of leaving and retirement for members who left service after 1 January 1986. Part of your pension is called Guaranteed Minimum Pension (GMP) and it is increased at a rate dependent upon the date you left. The remainder of your deferred pension is increased in line with the RPI until you retire subject to a maximum of 5% pa (but special rules apply to members who were contributing until 31 May 2002: see the section on Leaving Employment). Deferred pensions for members who left before 1 January 1986 are not increased.