Local government pensions will increase by 6.7% in 2024
Printer-friendly versionEach 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.
The state pension will rise by 8.5% from April 2024
The Government confirmed in last November’s Autumn Statement that the State Pension will rise from April 2024 by 8.5%.
This rise is in line with the government’s ‘triple lock’, which guarantees that the increase payable from April will be the highest of three measures – the September 2023 CPI inflation measure, average wage growth between May and July 2023 (including bonuses), or 2.5%.
As September's CPI measure was 6.7%, this means state pensions will go up by average earnings growth instead, which was a higher 8.5%.