INCREASE POLICY EXPLAINED
The Fund’s increase policy aims to provide increases to pensioners of at least 75% of the increase in the Consumer Price Index (CPI), provided that the increases granted may be limited to that made affordable by the investment returns earned on the Pensioner Account and it’s solvency.
Increases to pensioners are granted annually on 1st September each year. The increase granted in a specific year is subject to a maximum level of 150% of the increase in CPI.
The rate of increase in CPI will be measured for the year ending 30 June.