Will my payments increase?

PPF members

The indexation we can pay is governed by legislation. It also differs based on when you accrued your pension, also known as your pensionable service.

For service accrued after 6 April 1997:

Your PPF payments will rise in line with the Consumer Prices Index (CPI) measure of inflation each year, up to 2.5 per cent a year.

If CPI inflation falls below 0 per cent, your compensation will not be reduced.

Our Board has the discretion to change the level of indexation applied to payments. To date, the Board has decided not to exercise its discretion to vary the rate of indexation.

For service accrued before 6 April 1997:

Historically, your PPF payments haven’t increased. However, Parliament has now passed legislation – in the Pension Schemes Act 2026 – that will enable us to pay inflation increases, up to 2.5 per cent per year, on pre-97 compensation payments, where the original schemes provided for mandatory or statutory pre-97 increases.

For more information on eligibility and when we expect to begin paying pre-97 increases, please see our dedicated page www.ppf.co.uk/our-members/Will-my-payments-increase/pre-97.

FAS members

For members of the Financial Assistance Scheme (FAS), we work out your annual payment based on details provided by your former scheme.

This annual payment is reviewed each year and some elements may be increased in line with inflation to a maximum of 2.5 per cent.

Parliament has now passed legislation – in the Pension Schemes Act 2026 – that will enable us to pay inflation increases, up to 2.5 per cent per year, on FAS standard assistance payments relating to pension benefits built up before 6 April 1997, where the original schemes provided for mandatory or statutory pre-97 increases. 

For more information on eligibility and when we expect to begin paying pre-97 increases, please see our dedicated page www.ppf.co.uk/our-members/Will-my-payments-increase/pre-97.