This follows confirmation by HM Treasury of the Consumer Prices Index inflation figure for September 2018.  The same proposed increases apply to local government pensions. The necessary statutory instrument will be laid in due course.

Those pensioners whose pensions began on or before 23 April 2018 will receive an increase of 2.4 per cent, in line with the increase in the Consumer Prices Index.

This is a smaller increase than the 3.3 per cent which would have been payable had the previous indexation link to the Retail Prices Index still been in operation.  

Those pensioners who have retired on or after 24 April 2018 will receive a proportionate increase based on CPI. The following table shows the pensions increases payable.  It should be noted that the dates shown are the dates the pension begins and not the date of retirement.

Pensions beginning date

Percentage increase

On or before 23  April 2018

2.4%

24 April 2018 to 23 May 2018

2.2%

24 May 2018 to 23 June 2018

2%

24 June 2018 to 23 July 2018

1.8%

24 July 2018 to 23 August 2018

1.6%

24 August 2018 to 23 September 2018

1.4%

24 September 2018 to 23 October 2018

1.2%

24 October 2018 to 23 November 2018

1%

24 November 2018 to 23 December 2018

0.8%

24 December 2018 to 23 January 2019

0.6%

24 January 2019 to 23 February 2019

0.4%

24 February 2019 to 23 March 2019

0.2%

24 March 2019 onwards

Nil

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