King's College
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London, WC2B 6LE
Tel. 020 7848 3744
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State Pensions: Basic State Pension
Table 5: Current full amount of basic State Pension (bSP) and projected future amounts of bSP and new State Pension[1]
|
Tax Year |
bSP - Weekly Amount |
bSP as a percentage of NAE |
new State Pension Weekly Amount |
new State Pension as percentage of NAE |
Weekly National Average Earnings (projected)[2] |
|
Apr-17 |
£122.30 |
18.5% |
£159.55 |
24.1% |
£663 |
|
Apr-18 |
£125.95 |
18.5% |
£164.35 |
24.2% |
£679 |
|
Apr-19 |
£129.50 |
18.6% |
£168.95 |
24.2% |
£697 |
|
Apr-20 |
£132.75 |
18.6% |
£173.15 |
24.2% |
£714 |
|
Apr-25 |
£155.45 |
18.7% |
£202.85 |
24.4% |
£833 |
|
Apr-30 |
£191.85 |
19.0% |
£250.35 |
24.8% |
£1,010 |
|
Apr-35 |
£240.30 |
19.3% |
£313.55 |
25.2% |
£1,242 |
Important: The table above contains projections that use the “triple lock” guarantee for uprating both the bSP and new State Pension.
[1] PPI calculation. Assumes the basic State Pension is up-rated in line with the triple lock from April 2011, which in the long-term is assumed to exceed average earnings growth.
[2] This includes only full time employees. Outturn earnings figure comes from the Annual Survey of Hours and Earnings. Projected figures are in line with earnings growth assumed by the Office for Budget Responsibility.
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