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Yes. Your statement will be updated annually to show the current value of your benefits (including CPI increases) as of the end of the most recent financial year up until your Normal Pension Age (NPA). 

If you are over your NPA but have not yet claimed your benefits, your TRS statement will no longer update as when you come to claim your pension it will be backdated to your NPA as long as you have not worked in the NHS since then.