I have an index-linked pension from my years in the NHS and today I had a notification of the increase that applies from April this year 0.5%, yes half a per cent increase which amounts to a few pence.
I know nothing of the specifics of UK pensions, but in the USA the national old age pension system (formally OASD, but informally “Social Security”) is indexed to a particular flavor of inflation.
No inflation this year? No increase for you Mr. & Ms. Pensioner. At least some years in the last 10 the increase has been derisory. Which mightily confuses the old folks who think they should / must get a “raise” every year just because they’re so awesome.
Here are the data on UK inflation (CPI & CPIH).
ex-housing costs year to March = 0.7% ( prior month 0.4%)
with housing costs year to March = 1.0% (prior month 0.7%)
I believe that the data point used for the year-on-year calculation is September.
It does tend to balance out over time though. I suspect that it will have risen sharply by the third quarter this year. 2% is forecast - whoo hoo. Maybe interest rates will be up too?