Public service pensions are increased under the provisions of the Pensions (Increase) Act 1971 and Section 59 of the Social Security Pensions Act 1975. The latter provides for public service pensions to be up-rated at the same time and by the same percentage as the increase in the additional pension provided under the State Earnings Related Pension Scheme (SERPs), which is based on the September-to-September increase in the Consumer Prices Index (CPI). The underlying purpose of this legislation is to maintain the purchasing power of state retirement and public service pensions.
Pensions increase 2013
Public service pensions which have been in payment for a year will be increased by 2.2 per cent from 8 April 2013 in line with the September-to-September increase in CPI. Any 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.
The 2013 multiplier tables (Ms Excel) and the covering note can be found below.
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