PI factors are used to revalue a deferred pension before it’s put into payment. They're sometimes referred to as:
- annual uplift figures
- annual uprate figures
- deeming factors
View the PI factors on the HM Treasury website.
A deferred pension is calculated using the pay you were receiving when you originally left the NHS Pension Scheme.
After this calculation, the pension must be revalued to bring the pension up to date.
After being revalued, the pension is put into payment at the revalued amount. It will receive the appropriate yearly increases every April as applied by us.
PI factors are applied to estimates.
View the Retirement Guide on our website for further information about PI.
Deferred members taking early retirement before age 55
PI will not be applied to your retirement benefits as it only becomes payable at age 55.
Your retirement benefits will be less than your estimate until the PI is applied.