Civil Service pensions which have been in payment for a year will be increased by 10.1% from 10 April 2023 in line with the September-to-September increase in the Consumer Price Index (CPI).
Chief Secretary to the Treasury, John Glen, made a written statement to the House of Commons on public service pensions increase.
Mr Glen stated that public service pensions will be “increased from 10 April 2023 by 10.1 per cent, in line with the annual increase in the Consumer Prices Index up to September 2022, except for those public service pensions which have been in payment for less than a year, which will receive a pro-rata increase.” He noted that this was because “Legislation governing public service pensions in payment requires them to be increased annually by the same percentage as additional pensions (State Earnings Related Pension and State Second Pension).”
CSPA General Secretary, Lisa Ray welcomes the increase: “We are pleased to see at last the confirmation of public sector pensions increases of 10.1% from the Treasury. This will be welcome news to many Civil Service pensioners who struggle by on average pensions of £9,180 and for women only £6,800. It is imperative that pensioners, who cannot increase their income, are fairly rewarded for their years of public service with a pension that retains its value.”
Following the ministerial statement, HM Treasury published a covering note and multiplier tables for public service pensions for 2023.