Pension Pay Dates for 2024/2025
|
Fire & Former WDA Payroll 96
|
Local Government Payroll 98 End of Month
|
Local Government Payroll 99 (closed to new joiners) Mid Monthly
|
| 01 May |
30 April
|
16 April
|
| 31 May |
31 May
|
16 May
|
|
01 July
|
28 June
|
14 June
|
|
01 August
|
31 July
|
16 July
|
|
30 August
|
30 August
|
16 August
|
|
01 October
|
30 September
|
16 September
|
|
01 November
|
31 October
|
16 October
|
|
29 November
|
29 November
|
15 November
|
|
31 December
|
31 December
|
16 December
|
|
31 January
|
31 January
|
16 January
|
|
28 February
|
28 February
|
14 February
|
|
01 April
|
31 March
|
14 March
|
Please note: As a new pensioner you will be joined to either Payroll 96 or 98 depending on who you were employed by.
This year’s pension increase (2024/2025)
The annual increase to your Local Government Pension is based on the Consumer Prices Index (CPI) as at September from the preceding year, the CPI at September 2023 was 6.7%.
Your pension is normally increased if you:
- are aged 55 or over
- or are receiving a spouse’s, beneficiary’s, or child’s pension
- or retired on ill health grounds
If you do not fall into one of these groups, your pension will still attract the increase, but it will not be paid until your 55th birthday.
The payment of the pension increase comes from the Pension Fund but when you reach your state retirement age, this changes as some of the increase is paid by the Government and some will continue to be paid by the Fund.
If you were in the scheme prior to April 2016, you were contracted out of the State Second Pension (S2P) formerly known as the State Earnings Related Pension Scheme (SERPS).
When you retire, your LGPS pension must not be less than the pension you would have received from the State Scheme and so the Fund gives an undertaking to provide you with the same or greater amount of pension.
The responsibility of paying the pension increase on this part of the pension is taken up by the state when you reach your state retirement age, and this will be paid to you along with your basic state pension.