We respect your privacy, but can give you a better site if you allow cookies. Allow What are cookies?

Merchant Navy Officers Pension Fund

Deferred pension increases

Your deferred DB pension is increased from the date you become a deferred member. It goes up in line with the General Index of Consumer Prices (CPI), up to a maximum of 5% a year for service before 6 April 2009, and a maximum of 2.5% a year for service on or after 6 April 2009.

Pension benefits accrued before 6 April 1996 are not automatically increased.

At Guaranteed Minimum Pension Age (GMP), an additional increase may be applied to allow for the statutory revaluation of your GMP. If you have not been contracted-out of the State Earnings Related Pension Scheme while a member of the MNOPF you will not have any GMP.

Your deferred pension will be paid from your Normal Pension Age, or later.