The Pensions Increase to be applied to pensions in payment will be 10.1% for 2023. This will take effect from 10 April 2023.

The Pensions Increase is also used to revise other elements of the Scheme including maximum extra pension, restricted salary, and maximum earnings for someone in receipt of a child’s pension.

Career average revaluation

The revaluation to be applied to benefits that are accruing in the career average scheme is 11.7% for active members and 10.1% for deferred members.