The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001

Increases in deferred pensions

24.3  The said pensions payable under the CAA Section shall be increased in each year on 1 April by the percentage increase in the cost of living over the past year as shown in the Index for the month of February prior to the relevant 1 April or, in the case of a pension to which a Member became entitled within the year to 31 March by a proportional amount calculated on a basis determined by the Trustees with the advice of the Actuary; provided always that if there is a percentage decrease in the cost of living as shown in the Index references in this Rule 24.3 to increases and increasing a Member’s pension shall be taken to be references to decreases and decreasing a Member’s pension but such decreases shall be such as the Trustees with the consent of the Employers may determine and shall not apply:

(a) to pensions of a Member who became entitled to a deferred pension hereunder upon ceasing after 1 January 1985 to be a Current Member more than 365 days before Normal Pension Date; or

(b) so as to reduce a Member’s pension from the Scheme below the level of such pension at the date on which the Member ceased to be a Current Member.