About our pension scheme
Contents
Pension increases
| Year | Percentage increase |
|---|---|
| 2024 | 6.7 per cent increase |
| 2023 | 10.10 per cent increase |
| 2022 | 3.1 per cent increase |
| 2021 | 0.5 per cent increase |
| 2020 | 1.7 per cent increase |
| 2019 | 2.4 per cent increase |
| 2018 | 3 per cent increase |
| 2017 | 1 per cent increase |
| 2016 | 0 per cent increase |
| 2015 | 1.2 per cent increase |
| 2014 | 2.7 per cent increase |
| 2013 | 2.2 per cent increase |
| 2012 | 5.2 per cent increase |
| 2011 | 3.1 per cent increase |
| 2010 | 0 per cent increase |
| 2009 | 5 per cent increase |
| 2008 | 3.9 per cent increase |
| 2007 | 3.6 per cent increase |
| 2006 | 2.7 per cent increase |
| 2005 | 3.1 per cent increase |
| 2004 | 2.8 per cent increase |
| 2003 | 1.7 per cent increase |
| 2002 | 1.7 per cent increase |
| 2001 | 3.3 per cent increase |
How the increase is worked out
Pensions historically increased with the Retail Price Index (RPI).
From April 2011, pensions have increased in line with the Consumer Price Index (CPI). If the CPI is a negative amount, the pension will not increase.
Pension increase limitations
In cases where there is a pension increase, it will not be payable to you if you are under age 55, unless you retired by reason of permanent ill health or are in receipt of a dependant's pension.
Where your pension is in respect of a pension scheme membership occurring after 5 April 1978 and before 6 April 1997, and you became entitled to receive the State Pension on or before 5 April 2016, the increase does not normally apply to any guaranteed minimum pension (GMP) element contained within your local government pension.
GMP is also known as a contracted-out deduction or COD on your State Pension notification. The increase in your GMP is paid with your State Pension as part of the additional pension.
If all or part of your GMP relates to a period after 5 April 1988, the increase of up to three per cent on that part is paid with your local government pension, and the remainder (if applicable) is paid with your State Pension.