News and press releases

2024's headline increase is 6.7%and is based on the Consumer Price Index (CPI) on 30 September last year.

The government’s Pensions Increase (Review) order tells public-sector pension schemes like ours how much we should increase pensions by.

The increase is due from 8 April 2024. You can read more about the increase and how it affects your pension below:

• Local Government members
• Firefighter members

From the 2023/24 tax year the standard annual allowance amount for most members is £60,000.

Also in 2023 the lifetime allowance was abolished and has now been replaced by the lump sum allowance from April 2024.

You can read more about these rules below:

• Local Government members
• Firefighter members

Pension scams can be hard to spot. Scammers can be articulate and financially knowledgeable, with credible websites, testimonials and materials that are hard to distinguish from the real thing.

Scammers design attractive offers to persuade you to transfer your pension pot to them (or to release funds from it). It is often then invested in unusual and high-risk investments like overseas property, renewable energy bonds, forestry, storage units, or simply stolen outright.

You can read more about how to protect yourself from scams, and where you can report them if you spot one below:

• Local government members
• Firefighter members