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The Superannuation Arrangements of the University of London |
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Pensioner Members ► How your SAUL pension increases |
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Each April, SAUL pensions in payment are increased in line with price inflation in accordance with the Pensions (Increase) Act 1971. However, if a pension has been in payment for less than one year, we will pay only a proportion of the annual increase. From the date of retirement, if early, until State pension age, SAUL pays increases on the total pension. Once you reach State pension age, the Department for Work and Pensions (DWP) pays annual increases, in line with price inflation, on the Guaranteed Minimum Pension (GMP) built up before April 1988. SAUL pays the normal SAUL increases on the rest of your pension built up before April 1988. For pension built up between April 1988 and March 1997, SAUL pays annual increases of up to 3% on the GMP and the normal SAUL increases on the rest. If price inflation exceeds 3% in any year, the DWP pays the extra increase on the post-1988 GMP. For pension built up after April 1997, the whole increase will come from SAUL. |
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