Royal mail pension increase 2024

According to the Royal Mail's latest announcements, the pension increase for 2024 is expected to be around 3.25% to 3.5%. This is based on the Retail Prices Index (RPI) inflation rate, which is used to calculate the annual increase in pension payments.

Here's a breakdown of the expected pension increase for 2024:

• Royal Mail Pension Scheme (RMPS): 3.25% to 3.5%
• Royal Mail Group Pension Scheme (RMGPS): 3.25% to 3.5%

Please note that these figures are subject to change and may be adjusted based on the actual RPI inflation rate for 2024. The final pension increase will be confirmed by Royal Mail in the spring of 2024.

It's also worth noting that the pension increase will be applied to the pension payments made from April 2024 onwards. If you're a Royal Mail pensioner, you can expect to see the increased pension payments in your bank account from April 2024.

If you have any specific questions or concerns about your pension or the pension increase, I recommend contacting Royal Mail's pension team or a financial advisor for personalized guidance.