Grant PI
If during the period 23 April 2024 to 6 April 2025, you began receiving payment of your previously deferred pension from Staffordshire Pension Fund, you may receive a Pension Increase to your lump sum Retirement Grant (where applicable).
The additional payment labelled as “Grant PI” will be shown on your April 2025 Payslip. This represents the pensions increase from 8 April 2024 to your date of retirement which is due on the Lump Sum which you have already received.
For example, if your pension started to be paid on 1 October 2024 you are entitled to Pensions Increase on the lump sum for the period 8 April 2024 to 30 September 2024. The part increase for the year would be 0.85% compared to the full 1.7% increase for the whole of 2024/25.
This “Grant PI” increase is a one time only payment, made in the year following the commencement of your pension.