Public Sector Pension 3.3% Augmentation

We are pleased to announce that in accordance with the Public Service Pensions Act, the pension augmentation for 2022 is calculated at 3.3% based on an award of 100% of the increase in Consumer Price Index (CPI) of 3.3% for 2021. In accordance with Section 22 of the Public Service Pensions Act (2021 Revision), all DB and DC pensions in payment as at 31st December 2021 were to be adjusted for inflation as of the first day of January 2022. For pensioners in receipt of a monthly pension your May payment should reflect the 3.3% increase and the retroactive portion for January – April, which should also be reflected in your May pay slip as an adjustment.