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Im sure its obvious but I have the IQ of a polo mint, so does any one know what PI on a child's pension means? I believe it means Pension Increase. But what is it & why is it shown as a separate item on a pension statement?
Thanks...
I have the IQ of a cheese & onion hula hoop, and I don't know either.
I have the IQ of half a rhubarb
What was the question?
Pensionable income? What does IQ mean?
Chortle chortle 😆
Without wishing to pry can you give some more detail?
Is this statement for a pension your currently receiving?
I'm watching QI if that helps.
Its my sons pension, he's 14. On his statement it shows the "Child's basic pension" amount but also the "[u]PI[/u] on children's pension" amount.
Pensions generally increase annually Often in April.
This statement could be showing that annual increase.
why has your 14 year old son got a pension?
...and why am I not getting one?
sadly my son's father died just over a year ago which means my son is entitled to his pension.
matthewjb Does that mean the PI amount is a one off annual payment?
matthewjb Does that mean the PI amount is a one off annual payment?
My guess would be no. Every year the pension should increase. So the total he got this month will be what he gets paid until next April. Was the increase about 2.5%?
Its roughly 10% of the monthly amount paid ???
emma - Member
Its roughly 10% of the monthly amount paid ???
That sound quite a big increase but each pension scheme is different. The best idea is to give the administrators a call. There should be a phone number on the statement.
Thanks matthewjb will do. I'm sure you're right. Cheers everyone 😀