The basic state pension is paid to all
who have made sufficient national contributions.
It is uprated annually by the rate of inflation.
For the year 2004/5 the annual payment
is £6,617 for a couple and £4,139.20
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.
Additionally, there is the State Earnings
Related Pension Scheme (SERPS) and the new
State Pension 2. Mr Brown wants to implement
a means tested Guaranteed Minimum Pension
though this is too difficult to comment
on.
If you are uncertain as to what benefits
you will get then you should complete a
BR19 form which can be obtained either from
the post office or on the below link:
The
Pension Service
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