Policy paper

Public service pensions increase: 2023

Covering note and multiplier tables for public service pensions in 2023.

• From: HM Treasury
• Published: 20 February 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Note by HM Treasury 2023 pensions increase multiplier tables

MS Word Document, 33.4 KB

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Note by HM Treasury 2023 pensions increase multiplier tables

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2023 pensions increase multiplier tables

MS Excel Spreadsheet, 138 KB

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Details

The multiplier tables are produced to help scheme administrators correctly apply the annual increase to public service pensions, taking into account increases from previous years.

Public service pensions which have been in payment for a year will be increased by 10.1% from 10 April 2023 in line with the September-to-September increase in the Consumer Price Index (CPI). 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.

Published 20 February 2023