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CPI increase announced as 10.1%

The Consumer Price Index (CPI) increase which comes into effect next April has been announced as 10.1%. This figure is used to increase all Armed Forces pensions in payment.

Note that those receiving pensions for less than a year will receive a proportion of the full increase, depending on how many months your pension has been in payment during that year.

The Pension Increase (PI) comes into force on the first Monday after the beginning of the new tax year – so, for 2023 it comes into effect on 10th April.   The CPI rate is always announced in October and the PI is normally formalised in law in January/February.

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