RPSM09101270 - Technical Pages: Member benefits: A secured pension: Scheme pension: Overview: Increasing the rate of scheme pension

Increasing the rate of scheme pension paid year on year

A scheme pension can be increased year on year as the scheme wishes.

Where this increase rises above a defined cost-of-living measure a further lifetime allowance test may be triggered, with the excess annual increase over that measure crystallising for lifetime allowance purposes through benefit crystallisation event 3 (see RPSM11104300).

Also a scheme can allow a member to phase in a scheme pension entitlement over time.