Some 66,000 pensioners who were promised inflation-linked increases to their retirement payouts have been told they must wait at least an additional year before receiving them. The Pension Protection Fund, which administers payments for members of collapsed workplace pension schemes, has confirmed it cannot meet the January 2027 deadline originally envisaged for these individuals. The PPF and the Financial Assistance Scheme were both established by the Government to compensate members of failed workplace pension schemes. Their entitlement to inflationary increases related solely to their Guaranteed Minimum Pension — a distinct component of their workplace pension arising from "contracting out" of the additional state pension. How the state pension triple lock has changed over the years | GB NEWS / FIDELITY INTERNATIONALIn exchange, employers were obliged to deliver pension payments at least equivalent to the extra state pension foregone.