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  • Pension Increase rates and career average revaluation

    Topics:
    • Teaching staff, 
    • Pension Scheme

    Pensions in payment are increased in accordance with the Pensions Increase (PI) that is applied to public service pensions each April.

    Pensions in payment are increased in accordance with the Pensions Increase (PI) that is applied to public service pensions each April.

    PI is always applied on the first Monday falling on or after 6 April. PI this year will be 10.1%, which will be applied from 6 April 2023.

    PI is based on the rate of Consumer Prices Index (CPI) in the year to the preceding September.

    PI is also used, where applicable, for the revaluation of the final average salary used in the calculation of final salary pensions, as well as for the revaluation of additional pension elections and the annual revaluation of career average pension for deferred members.

    Pensions in payment are increased in accordance with the Pensions Increase (PI) that is applied to public service pensions each April.

    Career average revaluation

    The revaluation to be applied to benefits that are accruing in the career average scheme is 11.7% for active members and 10.1% for deferred members.

    Related content

    • Actuarial reports
    • Additional pension
    • Annual Benefit Statements
    • Applying for retirement benefits
    • Career average revaluation rates
    • Customer service, and complaints
    • Family benefits
    • Governance of the Northern Ireland Teachers' Pension Scheme (NITPS)
    • Ill-health retirement benefits and re-employment
    • Ill-health Retirement Guide
    • Important pensions notices for all NITPS members
    • Maintaining and boosting your pension
    • McCloud Remedy / Goodwin Judgement
    • Membership elections
    • NI Teachers’ Pension Scheme Member Contribution Yield Consultation
    • Northern Ireland Teachers' Pension Scheme actuarial valuation 2016
    • Northern Ireland Teachers' Pension Scheme – Cost control valuation 2016
    • Northern Ireland Teachers’ Pension Scheme actuarial valuation 2020
    • Overview of the Northern Ireland Teachers' Pension Scheme (NITPS) including member factsheets
    • Partner benefits
    • Pension circulars
    • Pension regulations
    • Pensions calculators
    • Pensions when you divorce
    • Prospective Remedy Consultation
    • Retrospective Remedy Consultation
    • Returning to work after receiving pension benefits
    • Statement on the McCloud Judgement
    • Teachers' Pay & Pensions Team - Privacy Notice (effective from 25 May 2018)
    • Teachers' Pension System - Member and Employer Portals
    • The Money and Pensions Service, MoneyHelper, pensions blog for teachers in Northern Ireland
    • Transitional Protection Arrangements
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