The Department of Finance has made an Order to provide for the revaluation of Career Average Revalued Earnings (CARE) benefits in public service pension schemes. The Order is used by schemes to revalue active member benefits according to the process set out in their scheme regulations. Active member benefits are reviewed each year with reference to the annual changes in prices or earnings. For 2024 the annual change in prices (CPI) is 6.7% and for earnings the figure is 7.7%. The revaluation has effect from 1 April 2024, or from 6 April 2024 for schemes made under the Local Government Pension Scheme (Northern Ireland) Regulations 2014 and the Health and Social Care Pension Scheme Regulations (Northern Ireland) 2015 .
The Public Service Pensions Revaluation Order (Northern Ireland) 2024