Pension Increases From April 2023 and Check If you are entitled to FREE Pension Credit

1st April 2023

State Pension - Government retains triple lock in 2023
The government confirmed in last November's Autumn Statement that the State Pension will rise from April 2023 by 10.1%. 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 - CPI inflation, average earnings or 2.5%.

This follows last year's suspension of the triple lock, which limited the increase to the CPI inflation figure instead of the higher average earnings figure.

The 2023 pension increase for the Police, Firefighters' and Local Government Pension Scheme (LGPS) will be 10.1 per cent.

This will be applied in full, from 10 April this year, to those members who have been receiving their pension for the whole of the 2022-2023 tax year (April 2022 to March 2023). It will be pro rata, so won't be fully applied to those members who retired after the start of this period.

Local government pensions will increase by 10.1% in 2023

Teachers Pensions Increase for this year is 10.1% and is payable from Monday 10th April 2023. The full effect can be seen from May 2023.

Check if you are due Pension Credits
From April all pension credit payments will increase by 10.1%, which was last September's inflation rate. Pension credit is tax-free financial support available to thousands but many people may not realise they are entitled to it.

To check if you may be entitled to free pension credit go to
https://www.gov.uk/pension-credit/what-youll-get