ABOUT THE PLAN

The Caterpillar Pension Plan is managed by the trustees, in conjunction with the Company, with the sole purpose of ensuring that the Plan has enough funds to pay out all the benefits that have been promised to members. All investment decisions are made by the trustees. You can find out more about the trustees here.

The Plan provides its members with a pension, based on their years of membership and salary, and will also pay a spouse/dependant’s pension to provide an ongoing income to your family in the event of your death.

After retirement, pensions in payment will be increased each year to help offset increases in the cost of living. The actual increase will depend upon when you built up the benefits and are linked to the Retail Prices Index (RPI) up to a maximum of either 3% or 5% per annum.

The State is also responsible for increasing part of your Guaranteed Minimum Pension (the pension you have built up in the Caterpillar Pension Plan as a result of being contracted out of the State Second Pension).

Specific details for your section can be found in the Plan booklet under Section guides and can be found here.