Pension & benefits report
As most retirees will know, our pensions are indexed to inflation and increase each year. Inflation indexing for pensions changed on January 1, 2014, so the inflation adjustment is computed separately for pension earned before that point and pension earned later. For this May 1, for most pensioners, pension earned before January 1, 2014 will increase by 3.28% and pension earned later will increase by 1.89%. For an explanation of the way these percentages were computed and for special considerations affecting those who retired in the last three years, please read on.