Pensions Increase 2018

Both deferred and pensioner members receive an annual cost of living award applied to their pensions. This ensures they keep up with the cost of living.  

The Government has approved the rate of increase for all public service pensions. The increase is effective from 9 April 2018 and is 3.00%.

The increase is set by reference to the Consumer Price Index in September.

 
If you have retired throughout the year you will receive a slightly lower pro rata rate:  
  
Pensions Beginning
 

 Increase                

6 April 2017 - 24 April 2017  3%
25 April 2017 - 24 May 2017  2.75%
25 May 2017 - 24 June 2017  2.5%
25 June 2017 - 24 July 2017  2.25%
25 July 2017 - 24 August 2017  2%
25 August 2017 - 24 September 2017  1.75%
25 September 2017 - 24 October 2017  1.5%
25 October 2017 - 24 November 2017  1.25%
25 November 2017 - 24 December 2017  1%
25 December 2017 - 24 January 2018  0.75% 
25 January 2018 - 24 February 2018  0.5%
25 February 2018 - 24 March 2018  0.25%
25 March 2018 - 5 April 2018  0%

 

Where the value of your pension payment is relatively low, you may wish to arrange to have this paid on a quarterly basis to avoid unnecessary charges. If you would like to discuss this please contact us

 

Pension Pay Days

Pay Days 2018-19

 

Month

Payment Date

April 2018

26 April 2018

May 2018

31 May 2018

June 2018

28 June 2018

July 2018

26 July 2017

August 2018

30 August 2018

September 2018

27 September 2018

October 2018

25 October 2018

November 2018

29 November 2018

December 2018

20 December 2018*

January 2019

31 January 2019

February 2019

28 February 2019

March 2019

28 March 2019

* Please note pensions are paid early in December due to the Christmas period.