The Government has now confirmed that Civil Service pensions will rise by 6.7% from 8 April 2024. The pension increase is in line with the annual increase in the Consumer Prices Index (CPI) from September 2022 to September 2023. The increase applies to all Civil Service pensions that have been in payment for at least 12 months in April, with pro-rata increases applied to pensions in payment for less than a year.
The Chief Secretary to the Treasury confirmed the pension increase in a written statement to the House of Commons, under Section 59 of the Social Security Provisions Act 1975 (as amended). The formal Pension Increase (Review) Order will be laid before Parliament during March.
“Confirmation of the pension increase will be a welcome relief to many retired Civil Servants who have been struggling with the cost of living, particularly with the high household energy bills, increasing food costs and upcoming council tax increases”
State Pensions to rise by 8.5% for 8 April
State Pensions that have been in payment for at least 12 months will rise by 8.5% from 8 April in line with the annual increase in earnings (including bonuses) averaged over May-July 2023, under the Triple-Lock arrangement which provides for the increase to be the higher of CPI inflation; average earnings growth; or 2.5%.
Further information on the Civil Service pension increase is available from the following Government link:
Public service pensions increases – GOV.UK (www.gov.uk)
Further information nformation on the State Pension increase can be found at this Government link:
State Pension and Benefit Rates: 2024-25 Statutory Re – Hansard – UK Parliament
