Retired or planning to retire
Pensions increases
This years 'Cost of Living' increase to pensions in payment is 1.7% from 8th April 2025. The full increase is only payable if your pension began on or before the 23 April 2024.
If your pension began after this date a smaller increase will be applied, called a Part Year Revaluation (PYRV).
| Year | Increase |
|---|---|
| 24-Mar-24 to 22-Apr-24 | 1.7% |
| 23-Apr-24 to 22-May-24 | 1.56% |
| 23-May-24 to 22-Jun-24 | 1.42% |
| 23-Jun-24 to 22-Jul-24 | 1.28% |
| 23-Jul-24 to 22-Aug-24 | 1.13% |
| 23-Aug-24 to 22-Sep-24 | 0.99% |
| 23-Sep-24 to 22-Oct-24 | 0.85% |
| 23-Oct-24 to 22-Nov-24 | 0.71% |
| 23-Nov-24 to 22-Dec-24 | 0.57% |
| 23-Dec-24 to 22-Jan-25 | 0.43% |
| 23-Jan-25 to 22-Feb-25 | 0.28% |
| 23-Feb-25 to 22-Mar-25 | 0.14% |
Your annual pension is reviewed each April, so that it reflects the cost of living. The amount of Pensions Increase is based on an index specified by the Government.
Pensions Increase is currently based on the change in the Consumer Prices Index in the 12-month period up to the end of the previous September.
Past Pension Increases
| Year | Increase |
|---|---|
| 2024 | 1.7% |
| 2023 | 6.7% |
| 2022 | 3.1% |
| 2021 | 1.28% |
| 2020 | 0.5% |
| 2019 | 2.4% |
| 2018 | 3.0% |
| 2017 | 1.0% |
| 2016 | 0% (no increase due to a -0.1% revaluation) |
