News updates

Read the latest updates from the world of pensions and see how they affect you as a member of the Scheme.

Read all about it...

Read the latest news about the Scheme and your pension below.

You can also visit the blog for a deeper dive into a variety of pension topics. 

A newspaper with the headline, Breaking News on the front.

Correction and apologies

Jun 22, 2020
On 12 March we published an article announcing that for the 2020/2021 tax year, your pension will increase by 1.7%, effective from 6 April 2020.

 

We also published a table showing the increase you will receive if you have retired since April 2019, depending on when you started to claim your pension. We incorrectly rounded the pension increase figures to one decimal point which has resulted in incorrect percentages in our March article and has caused confusion for some of our members.    

We have corrected this in the table below, which is now showing the exact figures rounded to two decimal places. It is these correct ones that were used when increasing pensions in our administration system.

Please, accept our apologies for any confusion this may have caused.

You can check the increase you’ll receive using the information in Table A.

 

Table A

Date you started claiming your railway pension (or your benefits became preserved)

% increase to your pension
On or before 21 April 2019 1.70%
22 April 2019 to 21 May 2019 1.56%
22 May 2019 to 21 June 2019 1.42%
22 June 2019 to 21 July 2019 1.28%
22 July 2019 to 21 August 2019 1.13%
22 August 2019 to 21 September 2019 0.99%
22 September 2019 to 21 October 2019 0.85%
22 October 2019 to 21 November 2019 0.71%
22 November 2019 to 21 December 2019 0.57%
22 December 2019 to 21 January 2020 0.43%
22 January 2020 to 21 February 2020 0.28%
22 February 2020 to 21 March 2020 0.14%
22 March 2020 onwards Nil


What to read next...

Your pension newsletters

We provide regular newsletters to help you navigate your pension whether you're paying into the Scheme, not paying in anymore, or receiving your pension. 

Check out the blog

Our blog gives you lots of insight and information to help support you on your journey to retirement.

Have your say with Platform

Register with Platform today to have your say in how we communicate with you and other members about your pension.