News
February 2024
In this section:
Local government pensions will increase by 6.7% in 2024
Each April your local government pension is increased to ensure that it maintains its spending power in line with the rise in the cost of living. The government has confirmed that local government pensions will rise by 6.7% from 8 April 2024.
This increase is calculated in line with September 2023’s CPI inflation figure. April’s pension payment will be a combination of two different annual rates. The first is the current rate that applies from the 1st of the month to the 7th; the second is the increased rate that applies from the 8th to the 30th. The full 6.7% pension increase will be applied in May’s pension payment.
Any pension which has been in payment for less than a year will be increased by a proportionate amount depending on the number of months it has been in payment.
You might have a Guaranteed Minimum Pension if you paid into your pension between 1978 and 1997. If this applies to you, and your State Pension Age was before 1 April 2016, your pension fund will pay some of the pension increases to you with your LGPS pension, and the government will pay the remainder with your state pension payments.
Your Pension Fund is bound by the provisions of annual Review Orders issued by HM Treasury and has no discretion in applying your pension increase.