HC Deb 24 July 1997 vol 298 cc745-6W
Mr. Flynn

To ask the Secretary of State for Social Security what will be the annual value of the basic pension for a single person in each year from 1997–98 to 2039–40, at 1997 prices, if it is uprated in line with average earnings, assuming that earnings rise in real terms by 2 or 1.5 per cent. per annum. [10114]

Mr. Denham

The information is in the table.

Annual value of standard rate category A retirement pension, at 1997–98 prices
Year Real earnings growth of 1.5 per cent. per annum (£) Real earnings growth of 2.0 per cent. per annum (£)
1997–98 13,247.40 13,247.4
1998–99 3,296.10 3,312.35
1999–00 3,345.55 3,378.60
2000–01 3,395.75 3,446.15
2001–02 3,446,70 3,515.05
2002–03 3,498.40 3,585.35
2003–04 3,550.90 3,657.05
2004–05 3,604.15 3,730.20
2005–06 3,658.20 3,804.80
2006–07 3,713.05 3,880.90
2007–08 3,768.75 3,958.50
2008–09 3,825.30 4,037.65
2009–10 3,882.70 4,118.40
2010–11 3,940.95 4,200.75
2011–12 4,000.05 4,284.75
2012–13 4,060.05 4,370.45
2013–14 4,120.95 4,457.85
2014–15 4,182.75 4,547.00
2015–16 4,245.50 4,637.95

Annual value of standard rate category A retirement pension, at 1997–98 prices
Year Real earnings growth of 1.5 per cent. per annum (£) Real earnings growth of 2.0 per cent. per annum (£)
2016–17 4,309.20 4,730.70
2017–18 4,373.85 4,825.30
2018–19 4,439.45 4,921.80
2019–20 4,506.05 5,020.25
2020–21 4,573.65 5,120.65
2021–22 4,642.25 5,223.05
2022–23 4,711.90 5,327.50
2023–24 4,782.60 5,434.05
2024–25 4,854.35 5,542.75
2025–26 4,927.15 5,653.60
2026–27 5,001.05 5,766.65
2027–28 5,076.05 5,882.00
2028–29 5,152.20 5,999.65
2029–30 5,229.50 6,119.65
2030–31 5,307.95 6,242.05
2031–32 5,387.55 6,366.90
2032–33 5,468.35 6,494.25
2033–34 5,550.40 6,624.15
2034–35 5,633.65 6,756.65
2035–36 5,718.15 6,891.80
2036–37 5,803.90 7,029.65
2037–38 5,890.95 7,170.25
2038–39 5,979.30 7,313.65
2039–40 6,069.00 7,459.9
1 Actual.

1. The convention of rounding the standard weekly rate of Retirement Pension (RP) to the nearest 5p at each uprating has been applied.

2. The figures in columns 2 and 3 represent the appropriate weekly rate multiplied by 52.

3. The figures for 1997–98 are based upon the actual RP standard rate.

4. From April 1998–99 onwards the standard RP rate has been uprated in line with the assumptions requested.