Police Pension Increase on the Way - Hopefully
We are very optimistic that all retired police officers will be receiving a back-dated increase in their pensions in the near future.
Under Section 2 of the Pensions (Increase) Act 1972, Government is required to review our pensions as soon as practicable AFTER 30th June in each even numbered year and increase them in accordance with any increase in the cost of living index. This is usually completed by around November/December of the same year at which time we receive an increase back-dated to 1st July.
Although we heard nothing about this in 2012 (an even year) we have recently been advised that the Pension (Increase) Order 2013 has now been tabled in the House, and that it should be passed within the next few weeks. If passed it will provide us with the following increases:-
- For pensions beginning on or before 30th June 2010 - 5.5%
- For pensions beginning in half year period ending 31st December 2010 - 5.5%
- For pensions ending in half year period ending 30th June 2011 - 3.5%
- For pensions beginning in half year period ending 31st December 2011 - 2.5%, and
- For pensions beginning in half year period ending 30th June 2012 - 1%
With any luck we should then receive our backdated pension increases by April. We will keep you posted on progress.