Your pension will be reviewed each April in line with our standard pension increases.
Any increases are linked to increases in official pensions paid to public sector employees (like teachers, civil servants or NHS employees). We’ll match the full increases for any USS benefits you earned before October 2011. For any benefits earned after that date we match these increases for the first 5% and pay 50% of any increase over 5%, up to a maximum increase of 10%.
So, if official pensions increased by 3%, we would increase your pension by 3%. If they increased by 7%, we would increase your pre-October 2011 pension by 7% and post-October 2011 pension by 6%.
During any periods of deflation, or negative inflation, we won’t reduce the value of your pension, but it won’t increase.