Pensions Increase Payable with Effect from 6 April 2009

PENSION INCREASE PAYABLE FROM 6 APRIL 2015

The Government has published the proposed increases in teachers’ pensions with effect from 6 April 2015. This follows confirmation by HM Treasury of the Consumer Prices Index inflation figure for September 2014. The same proposed increases apply to local government pensions. The necessary statutory instrument will be laid in due course.

Those pensioners whose pensions were last increased on 7 April 2014 and those pensioners whose pensions began on or before 21 April 2014 will receive an increase of 1.2 per cent, in line with the increase in the Consumer Prices Index.

This is a smaller increase than the 2.3 per cent which would have been payable had the previous indexation link to the Retail Prices Index still been in operation.

Those pensioners who have retired on or after 22 April 2014 will receive a proportionate increase based on CPI. The following table shows the pensions increases payable. It should be noted that the dates shown are the dates the pension begins and not the date of retirement.

Pensions Beginning Date Percentage Increase

On or before 21 April 2014 1.2% 22 April 2014 to 21 May 2014 1.1% 22 May 2014 to 21 June 2014 1% 22 June 2014 to 21 July 2014 0.9% 22 July 2014 to 21 August 2014 0.8% 22 August 2014 to 21 September 2014 0.7% 22 September 2014 to 21 October 2014 0.6% 22 October 2014 to 21 November 2014 0.5% 22 November 2014 to 21 December 2014 0.4% 22 December 2014 to 21 January 2015 0.3% 22 January 2015 to 21 February 2015 0.2% 22 February 2015 to 21 March 2015 0.1% 22 March 2015 onwards Nil

SSEE Department February 2015