5% is for service after 1997 only.
3% max for service before 1997, I believe.
Not much good when the present "quantative easing" by the Bank of England will see inflation like the 1970's. It's coming faster than you dare think. A few years of 25% inflation and you're a dead duck.
Add on Cameron in control (or should that be out of control) of the Government and your pension will be worth nothing by the time you can legally draw it.