As the cost of living rises, so will your pension.  Public service pensions increase by the rise in the Consumer Price Index (CPI).  The rate is measured by the Office for National Statistics (ONS) in the twelve months to September of each year. The rate is then confirmed by the Treasury, and applies from the following April, effective from the first Monday in the new tax year.

A letter about pensions increase is sent to Bedfordshire Pension Fund pensioners every April.

The pensions increase for April 2025 is 1.70%, payable from 7 April 2025. 

If your LGPS pension started on or before 22 April 2024, the increase is 1.70%.  Pensions which started between 23 April 2024 and 22 March 2025 will receive a proportion of the increase and the rates can be seen below.  Pensions which began on or after 23 March 2025 are not due for an increase until April 2026.

 

 

Revaluation of benefits for new pensioners

The LGPS became a Career Average Revalued Earnings (CARE) scheme with effect from 1 April 2014.  If you left the scheme in the period 1 April 2024 to 31 March 2025 then there will be a small increase to the part of your pension built up under the CARE scheme, in order to ensure the correct level of inflation proofing in the year of leaving.  The amount of the increase will depend on your date of leaving and will be up to a maximum of 1.70%.