The rate of the Consumer Price Index (CPI) for September 2024 is 1.7%. The legislation to confirm that this rate is used for pension increase is not available until March 2025. The change to your pension is detailed in your April 2025 payslip.
The pension increase from 8 April 2024 is 6.7%.
Your LGPS pension changes each April in line with the cost of living. The change is detailed in your April 2024 payslip.
The percentage is set by HM Treasury. It is based on the change in the Consumer Price Index (CPI) over the 12 months to the previous September. HM Treasury issue a Pension Increase (Review) Order confirming the percentage at the end of the financial year.
Get answers to frequently asked questions about pension increase
Notification of pension increase
The Spring issue of the Open Lines newsletter includes details about pension increase. We send the newsletter to your home address, or email address if you choose this option, in early April. If you have opted out of receiving the Open Lines newsletter, we write to you.
The change to your pension is detailed in your April payslip. It is posted to your home address at the end of April.
Read previous copies of the Open Lines newsletter