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The Public Service Pensions Revaluation Order 2025

S.I. 2025/252 · Made 3 March 2025

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

PUBLIC SERVICE PENSIONS

Made 3rd March 2025

Laid before the House of Commons 4th March 2025

Coming into force in accordance with article 1(2) and (3)

The Treasury make the following Order in exercise of the powers conferred by section 9(2) and (3) of the Public Service Pensions Act 2013f1.

Annotations to the whole text

Footnotes

f1

2013 c. 25.

Contents

  1. 1Citation, commencement and extent
  2. 2Revaluation by reference to change in prices or earnings
  3. Signature
  4. Explanatory note

1Citation, commencement and extent

(1)

This Order may be cited as the Public Service Pensions Revaluation Order 2025.

(2)

Subject to paragraph (3), this Order comes into force on 1st April 2025.

(3)

Article 2 comes into force on 6th April 2025 in respect of schemes established by—

(a)

the Local Government Pension Scheme Regulations 2013f1;

(b)

the Local Government Pension Scheme (Scotland) Regulations 2018f2;

(c)

the National Health Service Pension Scheme Regulations 2015f3;

(d)

the National Health Service Pension Scheme (Scotland) Regulations 2015f4.

(4)

This Order extends to England and Wales, Scotland and Northern Ireland.

2Revaluation by reference to change in prices or earnings

For the purposes of section 9(2) of the Public Service Pensions Act 2013 (revaluation), in relation to the period beginning with 1st April 2024 and ending with 31st March 2025—

(a)

the change in prices is an increase of 1.7per cent;

(b)

the change in earnings is an increase of 4.5 per cent.

Signature

Vicky Foxcroft

Jeff Smith

Two of the Lords Commissioners of His Majesty's Treasury

3rd March 2025

Explanatory note

(This note is not part of the Order)

Section 9 of the Public Service Pensions Act 2013 (c. 25) (revaluation) applies to pension schemes which, under that Act, require a revaluation of pensionable earnings, or a proportion of such earnings, accrued as a pension, by reference to a change in prices or earnings (or both) in a given period.

In relation to the period from 1st April 2024 to 31st March 2025 inclusive, article 2 of this Order specifies an increase in prices of 1.7 per cent, based on a measure of the year on year change in the Consumer Prices Index to September 2024; and an increase in earnings of 4.5 per cent, based on a measure of the year on year change in average weekly earnings to September 2024.

This Order comes into force on 1st April 2025 but, for the schemes specified in article 1(3), this Order comes into force on 6th April 2025.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.