In a previous update, we explained how your pension revalues when it's deferred.

If you missed it, you can read the article here and find out exactly how it works for your section of the UK Pension Fund.

Most of your revaluation in deferment is provided by something known as Statutory Revaluation. This is published each year in November by the Government, and it tells schemes like ours how much your deferred pension needs to increase by. There are 'higher' and 'lower' rated of revaluation - the lower rate applies to pension you earned from April 2009.

This doesn't include any Guaranteed Minimum Pension (GMP) you might have, which increases at a fixed rate of 3.5% on 6 April each year.

Our online estimator now includes the 2025 increases, so the figures you see are as up-to-date as they can be.

Statutory revaluation has a few quirks that are worth knowing about. The revaluation that you get depends on:

• The calendar year of the date of your estimate 
• The number of complete years that your pension has been deferred at the date of the estimate

For this reason, it's worth trying out a few different dates for your estimate and picking the date that works best for you. As an example, here's how revaluation would work on three sample dates if your pension was deferred when the UK Pension Fund closed in 2020.

It's quite a difference over the space of a few days and it's all to do with the number of complete years you've been deferred plus the calendar year in which your estimate is dated. We know it's complicated, which is why we always remind you to try a few different dates throughout the year to get a feel for how it works.

The published revaluation table can be found here on the Government's website. and we'll be using these for any estimates dated 2025 and beyond.