You will shortly receive your 2025/26 pension increase letter and 2024/25 P60.
You will receive your letter in:
- Early April if you’re paid weekly,
- Late April if you’re paid monthly or,
- In May if you’re paid quarterly.
What is Guaranteed Minimum Pension (GMP)?
GMP - This is the portion of your benefits that the RMSPS must pay because you were contracted out of the Additional State Pension (also known as the second state pension or SERPS) from 6 April 1978 and 5 April 1997. While you were contracted out, you did not build up Additional State Pension and instead the RMSPS agreed to pay you a guaranteed minimum level of benefits.,
How much will I get?
Section A/B members - the basic rate of increase to your pension is 1.7% for the year.
Pre-88 GMP - This is the GMP you built up before 6 April 1988. We do not increase your pre 88 GMP. Click here for more details
Post-88 GMP - This is the GMP you built up after 5 April 1988. This year your post-88 GMP will increase by 1.7%. For more information about how your post-88 GMP increases click here.
Section C members – the basic rate of increase to your pension is 1.7% for the year. Pension increases are applied using different rules and to help you understand, please see below:
If you retired part way through the year, or if your pension has a GMP element, you will only receive part of the full increase. If your pension started being paid from 22 March 2025, or you are under 55 years of age, you may not be eligible for an increase.
Pre-88 GMP - This is the GMP you built up before 6 April 1988. We do not increase your pre 88 GMP. Click here for more details
Post-88 GMP - This is the GMP you built up after 5 April 1988. This year your post-88 GMP will increase by 1.7%. For more information about how your post-88 GMP increases click here.
P60 – what is it, and why do I need it?
By law, we must send you a P60. This is your Tax Certificate and is issued at the end of the financial year.
You’ll need your P60 if you need to:
- claim back overpaid tax
- apply for tax credits
- prove your income if you apply for a loan or a mortgage
If you think your P60 is wrong, please contact HMRC.
HM Revenue & Customs,
Pay As You Earn,
PO Box 1970,
Liverpool,
L75 1WX
Telephone 0845 300 0627
Opening hours Monday to Friday: 8am – 8pm
Saturday: 8am – 4pm
The text phone for those with hearing or speech impairment is 0845 302 1408.
You can find out more information about your P60 and your payslip in our Frequently Asked Questions (FAQs).
If you still have questions after reading the FAQs, please contact us.