HM Treasury

Official Committee on Occupational Pensions

Note by HM Treasury

2025 Pensions increase multiplier tables

1. This paper gives details of the multiplier tables for public service pensions, which take effect from 07 April 2025.

2. Section 59 of the Social Security Pensions Act 1975 (as amended) provides for public service pensions to be increased annually by the same percentage as additional pensions (State Earnings Related Pension and State Second Pension). As the Secretary of State for Work and Pensions has confirmed, benefits such as additional pensions will be increased by 1.7 per cent from April 2025, in line with the increase in the Consumer Prices Index in the 12 months from September 2023 to September 2024. The Chief Secretary to the Treasury then made a Written Statement on 11 February 2025 confirming that public service pensions would also be increased by the same percentage, which is 1.7 per cent, from 07 April 2025.

3. We expect the Pensions Increase (Review) Order to be laid during March 2025. The attached spreadsheet (containing Annex B for increases to pensions in payment and Annex C for increases to lump sums) sets out the increases and multipliers that apply to preserved pensions and lump sums from 07 April 2025.

4. The tables in Annex B and Annex C are available on the Treasury website.

5. Further guidance on the operation of Pensions Increase Legislation for public service pension schemes is available.

Liam Claughton

HM TREASURY