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Pensions - PI factor

Discussion in 'Retirement' started by billzant, Mar 2, 2011.

  1. I have just applied at Capita hartshead for my pension - I am 59.

    I then checked my pension estimate to discover that it is now 2/3 of what it was last year. After recovering from the shock I realised that my estimate for this year did not include the PI factor - according ot my Capita forecast that PI factor is 1.58.

    Is this PI factor now not being applied or is it that Capita are not showing it in their estimates?

    I live overseas, does this affect whether my pension is multiplied by the PI factor?


     
  2. I have just applied at Capita hartshead for my pension - I am 59.

    I then checked my pension estimate to discover that it is now 2/3 of what it was last year. After recovering from the shock I realised that my estimate for this year did not include the PI factor - according ot my Capita forecast that PI factor is 1.58.

    Is this PI factor now not being applied or is it that Capita are not showing it in their estimates?

    I live overseas, does this affect whether my pension is multiplied by the PI factor?


     
  3. The PI increase will be applied, when you retire and each year after, no matter where you live. There is no reason of it not to apply, I expect it was ommitted from the estimate in error.
    PS Make sure you check your junk mail box when the Pension notification is due.

     
  4. I have added one pension address to the junk email filter.

    The TPS is Capita and I don't trust them. One friend said "your pension it appears that the TPS are already implementing the changes before they have gone through parliamant or the Hutton report has come out. " I hope my friend is wrong, Colin, and that you are right.
     
  5. lizziescat

    lizziescat Star commenter Forum guide

    What is PI Factor?
     
  6. It stands for Pension Increase (in line with inflation). Benifits in the past increased in line with RPI but future will increase in line with CPI which tends to be lower.
     
  7. lizziescat

    lizziescat Star commenter Forum guide

    thanks.

     

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