How your pension grows
Your pension provides you with a guaranteed retirement income for life when you retire. This is based on your length of service and either:
- Your final salary; or
- Your career average earnings (CARE) for service after 1 April 2018
Your pension built up prior to 1 April 2018 is based on your final salary when leaving Diageo and so as your salary increases this part of your pension increases.
Since 1 April 2018 you have been building up blocks of pension based on your salary each year. Each block of pension is increased in April by inflation (Consumer Prices Index) up to 5% a year, until you retire.