Information about the increase according to GEP law or pension increase policy:

  • According to the GEP Law, the Fund’s stated aim is to grant annual pension increases on 1 April each year equal to:
  • At least 75% of the year-on-year increase on the Consumer Price Index to the previous 30 November; plus
  • Any additional amount, after the increase above, necessary to maintain the purchasing power of at least 75% of the pension at retirement.
  • Where the pensioner has retired after the previous 1 April, the pensioner will receive only a pro-rated increase.
  • It must be noted that an increase above what is provided for in GEP Law is granted at the discretion of the Board of Trustees and is subject to affordability