In the current economic climate, inflation has reached the highest level in 40 years and is a big problem for people with savings and investments. How this affects your benefits depends on when you built them up and whether you have already drawn your pension. Only some elements of your Scheme benefits are linked to inflation and will increase when inflation is higher, subject to limits. The Trustee continues to monitor the situation.

If you have questions about your retirement or you pension benefits, please contact Mercer who will be able to provide you with more information.

You can understand more about inflation and what it means for your retirement planning on the MoneyHelper website at: Inflation – what does it mean for your savings | MoneyHelper