State Retirement Pensions

(asked on 18th April 2018) - View Source

Question to the Department for Work and Pensions:

To ask Her Majesty's Government how much higher the basic state pension is in 2018–19 than it was in 2010–11, following the increase announced in April by the Chancellor of the Exchequer.


Answered by
Baroness Buscombe Portrait
Baroness Buscombe
This question was answered on 25th April 2018

In 2010-11 the basic State Pension was £97.65 per week. In 2018-19 it is £125.95 per week, an increase since 2010-11 of £28.30 per week or over £1450 per annum. Legislation for the basic and new State Pensions allows for annual increases at least in line with average earnings growth. This ensures that people above State Pension age receive increases in their basic State Pension income that are in line with earnings growth in the population as a whole. In addition, this Government has committed to increases in line with the Triple Lock for the duration of this Parliament, ensuring that increases will be the highest of the growth in prices, earnings or 2.5%. For 2018/19 these pensions increased by 3% (the rate of prices growth under the Consumer Price Index). The full rate of basic State Pension is now £660 more than if it had been uprated by earnings over this period.

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