Discretionary increases: checklist for trustees of DB pension schemes to consider

With inflation running at 10%, is it time to look again at your discretionary pension increase policy?

As calls for discretionary increases look set to increase, there are advantages in taking early steps to review powers, principles and historic practices. These may not have been considered for many years and in many cases, there will not be a well-articulated policy in place.

Even if not something the trustees and/or sponsoring employer want to grant, being able to respond to members’ questions quickly and clearly should help to reduce the risk of further queries or challenge

Download our latest paper to read our brief guide to the issues to think about.

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If you have any questions on anything covered, please get in touch.