This ready reckoner is designed to show an earlier pay figure in today’s money. For example, since 1 September 1990 the cost of living has risen by 95.08%. A final pay of £10,000 from then is therefore worth £19,508 in today’s money.
To work accurately, the pay figure and date that you are about to enter must be correct. The final pay used to calculate your deferred benefits must also be the pay relating to your last 12 months of deferred service. If pay from an earlier period was used, the new figure that the reckoner will calculate will tend to be lower than it should be.