King's College
Virginia Woolf Building
1st Floor, 22 Kingsway
London, WC2B 6LE
Tel. 020 7848 3744
Mob. 07718 647 567
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-20 |
£134.25 |
18.4% |
£175.20 |
24.1% |
£728 |
|
Apr-21 |
£139.20 |
18.5% |
£181.70 |
24.2% |
£752 |
|
Apr-22 |
£143.95 |
18.5% |
£187.90 |
24.1% |
£778 |
|
Apr-25 |
£159.25 |
18.6% |
£207.85 |
24.2% |
£858 |
|
Apr-30 |
£194.40 |
18.9% |
£253.70 |
24.6% |
£1,029 |
|
Apr-35 |
£237.30 |
19.2% |
£309.70 |
25.1% |
£1,235 |
|
Apr-40 |
£291.40 |
19.5% |
£380.35 |
25.5% |
£1,491 |
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 uprated 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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