Pensions Increase 2011

We have recently received confirmation that the Pensions Increase to be applied on 11th April 2011 to all pensions in that have been in payment or deferred for at least 12 months, will be 3.1%.

As previously reported, in his Budget of 22nd June 2010, the Chancellor announced the intention to move the revaluation of public service pensions from the Retail Price Index (RPI) to the Consumer Price Index (CPI). HM Treasury have confirmed that the figure of 3.1% is taken from the CPI as at September 2010.

Further details can be found on the HM Treasury website.

New Contribution Bands from 1st April 2011

Please be aware that from 1st April 2011, the new contribution pay band are:

Pay Range	Contribution Rate
£0-12,900	5.5%
£12,901 - £15,100	5.8%
£15,501 - £19,400	5.9%
£19,401 - £32,400	6.5%
£32,401 – £43,300	6.8%
£43,301 - £81,100	7.2%
>£81,100	7.5%

Pension paydays 2011/12

The pay dates for pensions is available for the period April 2011 to March 2012.