In German rule book (page 160) it clearly states that mystic adepts (same as ki adepts) gain a power point when they raise magic with karma. This does not work in Genesis for mystic adepts. It DOES work for normal Ki adepts.
In my view, this should ALSO be true for english rule book. There is no explicit mentioning of mystic adepts gaining power points with magic raise, but the power point section (page 156) reads " Whenever adept characters gain a point of Magic, they also gain a power point." And mystic adepts ARE adepts. Thus I would treat the more detailed comment in the German rule book as errata.
Clarification von Hjal/Stainless Steel Devil Rat:
_Furthermore, Mystic Adepts do not gain PPs automatically as their Magic increases (not only during chargen, but also after!). The only permanent way for a Mystic Adept to gain PPs is to take the Power Point metamagic during initiation. _
So, no automatic PP for Mystic adepts when the magic rating is increased. At least for the Catalyst rules. For the german rules it is different.