If your contributory service in the Scheme ended before your pension was due to start, you will have benefits ‘preserved’ in the Scheme for payment when you reach pensionable age. These preserved benefits are called deferred pensions. This section of the website tells you about your deferred pension.

How your benefits were worked out when you left service

After you left service you were sent a statement showing the value of your deferred pension. The statement showed:

• the value of your benefits calculated using your contributing service and pensionable salary at the date you left service
• the value of any extra benefits you earned if you paid contributions on overtime payments, attendance bonus payments or additional attendance payments
• if you left through redundancy and had the option to pay part of your redundancy pay into the Scheme, the amount of pension purchased if you took that option
• if you paid family benefit contributions, the benefits payable to your dependants in the event of your death
• the age at which your pension will start to be paid. If you left after 1 April 1996, the statement would also have shown the value of Bonus Augmentations. References to pensions and benefits on this website are to Guaranteed Benefits only unless there is a specific reference to Bonus Augmentations.

Increases to your deferred benefits before retirement

Your deferred pension will increase on 1 January each year in line with the increase in the Index of Retail Prices for the 12 months to the end of the previous November.

Bonus Augmentations

Your deferred pension may also increase if there are future valuation surpluses which enable the Trustees to improve benefits by awarding Bonus Augmentations. Deferred Bonus Augmentations will be kept separate from the rest of your deferred pension entitlement. Bonus Augmentations have been awarded with effect from 1st April 1996, 1998 and 2001.

Keeping you up to date about your deferred pension

An up to date statement of benefits will be sent to you every year usually in April.