1. Adjustment of current pensions for inflation (inflation adjustment)

• The review of adjustments for inflation is based on the national consumer price index (CPI).
• Observation date: September; the change compared to September of the previous year is considered (annual observation period).
• The inflation adjustment cor­re­sponds to the maximum annual inflation rate. If annual inflation is below 0.5%, no inflation adjustment is made. This minimum requirement avoids adjustments of small amounts and allows the surplus to be used specifically for mea­sures with a meaningful effect (see section 2).
• Inflation adjustments that are not granted are not cumulated in subsequent years.