Pension Increase Notification – 2018
On 7th March the 2018 Pension Increase was confirmed in writing by HM Treasury.
In accordance with this notification all applicable Public service pensions which have been in payment for a year or more will be increased by 3% from 9 April 2018 in line with the September-to-September increase in the Consumer Prices Index (CPI).
Any applicable 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.
Therefore pensioners will receive a payslip in April detailing the amount of pension increase paid from 9 April to 30 April 2018.
A further payslip will be issued in May detailing a full month at the new rate of pension payable.
Thereafter payslips are issued when there is a change of £2 or more in the amount of pension payable.