A Pension Increase Exchange Offer, otherwise known as PIE, will affect you if you are a pension member rather than a deferred member of a Scheme. If you are provided with a PIE offer then you will have the opportunity to exchange some or all of your future non-statutory pension increases in exchange for a higher, one-off uplift to your pension. The immediate benefit to you will be receipt of a higher immediate pension. The Retirement Adviser can provide you with advice as to whether or not to accept the offer.
If you are a pension member and have received a PIE Offer letter then you can use our online PIE Calculator to help you think about whether exchanging some or all of your future pension increases for a one off increase to your current pension income fits with your personal circumstances.
You will be asked to answer a few questions about yourself, your pension(s) and your preferences before being provided with an idea as to whether the option is right for you.
Please note that this calculator does not offer advice, rather it provides guidance and highlights issues for you to discuss with us. Click here to use the calculator*.
* The calculator is only available to pension members who have received a PIE Offer letter
The Financial Conduct Authority does not regulate pension increase exchange (PIE) exercises.