Obviously it's excellent news but I wasn't expecting it at all and wonder why/how it happened.
It was a final salary scheme (sorry, I know gold dust) and I left the company in 2011 with 20ish years' service, which was excellent timing because there were significant changes to the scheme just a few months later but I still have all the old T&Cs.
Anyway, when I left I got a "deferred benefit statement" telling me the value of the fund if I were to transfer it out and the annual amount of the pension I would receive at age 60 if I left it. Plus advice that it would increase 4%pa or with RPI, which ever was the lower.
I'm getting closer to retirement and asked for an updated statement. The annual pension is 80% more than it was in 2011 and the tf value is more than three times as much as it was.
Obviously I'm not complaining but why has it increased so much? It must be much more than RPI in that period? To think, some people told me to tf it out at the time!!