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Does my pension keep up with the cost of living?

On 1 April each year the CARE pension that you have built up to the 31st March that year is revalued in line with Orders made by the Department of Finance.  This ensures that your pension keeps up with the cost of living.  The benefits built up in the Scheme are revalued based on the year to year change in the Consumer Prices Index figure to the previous September.  The cost of living adjustment can go down as well as up.

The revaluation rates for 2016 and 2017 are shown below:

 Effective Date

CARE Revaluation

1 April 2017

1.0%

1 April 2016

-0.1%