Update – Pension Adjustment in respect of October 2023 increase

We recently advised ARCO members that Pensions Financial Administration intended to pay the benefit of the 1.5% increase, due from 1st October 2023 under the extended Building Momentum Agreement, in the pension payroll of 30th November 2023 for the vast majority of military pensioners. See our posting of 11th October 2023 at: https://arcoireland.com/pension-adjustment-in-respect-of-october-2023-increase/

Pensions Financial Administration has informed ARCO that the benefit of this increase has been delayed due to the complexity of the work involved. The revised date of payment of the increase, and presumably of any back-money due, will be in the pension payroll dated Tuesday, 19th December 2023, for the vast majority of military pensioners.

The slightly earlier payment of December pensions has been the case for many years.

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