The annual Revaluation Order was laid before Parliament on November 25, 2022, and will come into force on January 1, 2023. It sets out the revaluation required in respect of benefits, in excess of any GMP, for deferred members who will reach normal pension age in 2023. This year, the Order reflects the September 2022 CPI which was an increase over the year of 10.1 per cent.