For the year 2008-9 the annual payment is £7543 for a couple and £4716 for a single person. Because they are only increased in line with inflation they will not keep pace with earnings, and will, relatively speaking decline in value over the years to come.
Use this calculator to get a very rough idea as to how valuable the Basic State Pension will be in the future into your retirement.
Number of years to age 65:
Rate at which you expect your salary to outpace inflation. Eg if you expect inflation to be 3% and salary increases to be 4% enter 1:
Salary:
Couples or Singles pension expected?:
Value of pension today as percentage of salary:
% of salary
At age 65:
At age 75:
At age 85:
At age 95:
This calculator, and the figures shown by it, are for illustrative purposes only and should not be relied on. For more detailed information based on your own circumstances, please speak to your financial adviser.
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