An increase to your pension is payable if you’re over age 55 or are receiving:
The annual increase is based on the Consumer Prices Index (CPI). This is set by HM Treasury every year.
Visit the GOV.UK website for information on the yearly increases.
Pensions increase (PI) will be applied on the first Monday on or after 6 April each year.
You’ll receive an Advice of Payment (AOP) detailing your new rate and percentage increase in your April and May payments. We cannot advise you of the PI value before April.
If your pension started part way through the year, you may receive a lower percentage increase for the first year.
Read more information about PI on our website.
Members affected by Guaranteed Minimum Pension (GMP)
PI is applied to the amount you’re getting including any previous increases, less any GMP.
If your pension includes a GMP, the cost of paying increases is met by the NHS Pension Scheme between your GMP age and your State Pension Age (SPA).
The GMP age is:
- 60 for women
- 65 for men
The cost of paying increases on a GMP is shared between the NHS Pension Scheme and the Department for Work and Pensions (DWP), from SPA.
The Scheme’s share of the increases will be paid with your NHS pension. The DWP will pay their share of GMP increases with your State Pension.
Read more about how PI is paid for pensioners affected by GMP on our website.
Lump Sum Allowance (LSA)
Your first pension increase may not be paid if you've:
- used up 80% or more of your lifetime allowance (LTA)
- received a lump sum of £200,000 or more on or after 6 April 2024
- got a Transitional Tax-Free Amount Certificate (TTFAC) or any other LTA protection certificate
We’ll contact you if any of these apply before paying your PI.
If we've not contacted you by the end of April, contact us so we can review your details.