Pension increases
To make sure you aren’t adversely affected by the cost of living, your pension is aligned with the Consumer Price Index (CPI).
Consumer Price Index (CPI)
The Consumer Price Index CPI) is the official measure of inflation based on hundreds of different goods and services, the prices of which are tracked throughout the year.
How is the pension increase applied to your pension?
This depends on whether you are a retired member (already receiving your monthly pension payments) or a deferred member (no longer paying into your scheme, but not yet retired).
It also depends on whether this situation has changed within the last 12 months or if you receive GMP.
Learn more about GMP- If you are retired and aged 55 or over (or retired on ill health grounds), you will receive the full pension increase as long as you have been retired for at least 12 months. If you retired mid-year, you will receive the increase on a pro-rata basis (see table below).
- If you’re no longer paying into your pension (deferred) , you will receive the full increase regardless of your age. But if you left the scheme mid-year, it will be on a pro-rata basis.
Pension increases for April 2024
The latest pension increase has been confirmed as 6.7% based on the Consumer Price Index (CPI) for September 2023. The pension increase will be applied from 8 April 2024.
How the pension increase is applied if you stopped paying from April 2023
If you retired or stopped paying into your pension from April 2023, your pension increase is included on a pro rata basis throughout the year (click here to find out why). The table below shows how the payments are made each month.
| Date retired | Total % increase |
| 24 Feb 24 to 23 Mar 24 | 0.56% |
| 24 Jan 24 to 23 Feb 24 | 1.12% |
| 24 Dec 23 to 23 Jan 23 | 1.68% |
| 24 Nov 23 to 23 Dec 23 | 2.23% |
| 24 Oct 23 to 23 Nov 23 | 2.79% |
| 24 Sep 23 to 23 Oct 23 | 3.35% |
| 24 Aug 23 to 23 Sep 23 | 3.91% |
| 24 July 23 to 23 Aug 23 | 4.47% |
| 24 June 23 to 23 Jul 23 | 5.03% |
| 24 May 23 to 23 Jun 23 | 5.58% |
| 24 Apr 23 to 23 May 23 | 6.14% |
| 26 March 23 to 23 Apr 23 | 6.7% |
Historical pension increases
The table below shows the pension increases for LGPS, police and firefighter schemes over the last 10 years. These increases apply to anyone who has been a member of the scheme for the full 12 months of any given year.
| Year | Percentage increase |
| 2024 – 2025 | 6.7% |
| April 2023 | 10.1% |
| April 2022 | 3.1% |
| April 2021 | 0.5% |
| April 2020 | 1.7% |
| April 2019 | 2.4% |
| April 2018 | 3.0% |
| April 2017 | 1.0% |
| April 2016 | 0.0% |
| April 2015 | 1.2% |
| April 2014 | 2.7% |
