3.75% for those still serving seems pretty miserly.
Whereas according to the CTP website, Armed Forces pensions, once awarded, are adjusted in April each year by the Consumer Price Index (CPI). The CPI rate used is the CPI headline rate for the September prior to the April adjustment the following year. This rate is formally announced in October each year.
But with CPI at around 9.4%, do we really anticipate the government holding to this agreement? Perhaps encouraging is the announcement that, for the State Pension, the 'triple lock' will be applied for 2023....meaning a rise in accordance with inflation.