The Pension Increase Exchange offer

In August, the IMI 2014 Pensioner Fund and IMI 2014 Deferred Fund offered their eligible members the opportunity to accept a Pension Increase Exchange (PIE) offer.

A PIE offer allows a member to take a one-off increase to their pension now in exchange for giving up future annual pension increases.

With the support of the Trustee, IMI chose to make this offer to eligible members because it wants members of the Fund to be given as much flexibility as possible concerning their pension benefits. In August, this offer was extended to eligible members through a personalised, printed pack, which was posted to home addresses.

With pension scams on the increase in the UK, it is important to remember that pension scams can take many forms and may appear to come from a trustworthy source. For members who received a PIE offer from IMI, your correspondence looked like this:


Further information on this offer can be found at

If you have received any other forms of communication regarding a PIE or other type of offer and you are unsure if the correspondence you have received is from IMI, please contact the Fund Administrators, Willis Towers Watson, on 01737 788 145.

Didn’t receive a pack?
If you did not receive a pack, you are not eligible because of your age or circumstances and do not need to take any action.

Be scam aware
The Pensions Advisory Service offers an online tool for people who think that they may have run into a scam. You can access the tool at

Back to all news articles