What pension rights does deflation impact upon?
Inflation and deflation has an impact upon: • statutory revaluation applied to deferred benefits since 1986; • statutory pension increases on guaranteed minimum pensions (GMPs) earned between 6 April 1988 and 5 April 1997; • statutory pension increases on all defined benefits earned after 5 April 1997; • statutory pension increases on all money purchase pensions which came into payment before 6 April 2005; and • any pension increases applied to benefits earned before 6 April 1997 under the scheme rules.
