Pensions are increased in April each year in line with the NEUPS Rules. Different increases apply to different parts of NEUPS pensions, depending on when they were earned. The latest increase, as at 1 April 2022, applies to any pension earned on top of the Guaranteed Minimum Pension (GMP).

 

The majority of pension above GMP earned in the NEUPS increases in line with CPI capped at 2.5% pa. The relevant CPI measure for 2022 was 3.1%, so pension was increased by 2.5% this year.

 

The exceptions to this are:

 

- Pension built up to 1 April 2006 in the ATL Pension Scheme, which increases at 5% pa.

 

- Pension built up between 1 April 2006 and 1 April 2013 in the ATL Pension Scheme, which increases at 2.5% pa.

 

- Pension built up to 1 September 2010 in the NUT Staff Superannuation Fund, which increases in line with the increase in public service pensions. This year, the increase was 3.1%.