For members of the Local Government Pension Scheme in England and Wales
Will my pension in payment increase?
This news article was published on 17 Dec 2021
Your pension will increase in line with the cost of living (Consumer Price Index) each April if you are over the age of 55.
If you take your pension in the same year as your LGPS membership ended, there is an adjustment to the pension you built up from 1 April 2014 onwards. It is revalued up to the date of leaving in line with the cost of living. This adjustment applies on 1 April after your leaving date in line with HM Treasury Revaluation orders. If the cost of living has gone down in the scheme year that you leave, it is possible that your pension could reduce.
If you joined the LGPS before 1 April 2014 and you take your pension in the same year as your LGPS membership ended, you may not receive the full increase in the first year. Instead you will receive a proportion of increase based on how many months your pension has been paid for since the last April. The increase takes effect from the first Monday after 5th April of each year.