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Pensions Increase

Legislative Background

Public service pensions are increased under the provisions of the Pensions (Increase) Act 1971 and Section 59 of the Social Security Pensions Act 1975. The latter provides for public service pensions to be uprated at the same time and by the same percentage as the increase in the additional pension provided under the State Earnings Related Pension Scheme (SERPs), which is based on the September-to-September increase in the Retail Price Index (RPI). The underlying purpose of this legislation is to maintain the purchasing power of state retirement and public service pensions.

Pensions Increase 2004

Public service pensions which have been in payment for a year will be increased by 2.8% from 12 April 2004 (ie based on the RPI in September 2003). Any pension which has been in payment for less than a year will be increased by a proportionate amount depending upon the number of months it has been in payment.

Further information

Links to the 2004 multiplier tables (Ms Excel) and the Draft Pensions Increase (Review) Order 2004 are now provided below. The final Pensions Increase (Review) Order 2004 will be available from HMSO in March 2004.

Pensions Increase (Review) Orders back to 1987 can be found by using the search engine on the HMSO website (link below).

Media links

2004

Pensions Increase 2004 - Covering Note (Ms Word)
Pensions Increase 2004 - Draft Statutory Instrument (Ms Word)
Pensions Increase 2004 - Multiplier Tables (Ms Excel)

2003

Pensions Increase 2003 - Covering Note (Ms Word)
Pensions Increase 2003 - Draft Statutory Instrument (Ms Word)
Pensions Increase 2003 - Multiplier Tables (Ms Excel)

2002

Pensions Increase 2002 - Covering Note (Ms Word)
Pensions Increase 2002 - Draft Statutory Instrument (Ms Word)
Pensions Increase 2002 - Multiplier Tables (Ms Excel)

2001

Pensions Increase 2001 - Covering Note (Ms Word)
Pensions Increase 2001 - Multiplier Tables (Ms Word)

Other

A note on the operation of pensions increase legislation for public service pension schemes (Ms Word)

External links

Public Service Pensions index page