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The diagram shows how your pension builds up over your career.

In year 1, 1/55.3th of your pensionable earnings is added to your pension at the end of the scheme year (31 March).

In year 2, the balance of your pension is carried forward and added to this is 1/55.3th of your pensionable earnings. CPI + 1.25% is applied to your total pension at the start of each scheme year, this can be either positive or negative. In the example, a small increase has been applied each year.

In year 3 the same happens and again in year 4 and so on.