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Local government pensions, whether deferred or in payment, normally increase annually in line with inflationary rises in the Retail Prices Index (RPI). This is based on the rise in the Index as at September each year. |
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In September 2009 inflation was minus 1.4%.
Our annual increases are not something we have any discretion over. They are governed by an Act of Parliament, as are all public sector pension schemes. The reason for this legislation was to maintain the purchasing power of public sector pensions. As the legislation only provides for increases in pensions we do not reduce them so this year our pensions will remain at the same rate as 2009.
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