HC Deb 11 March 1991 vol 187 cc411-2W
Mr. Meacher

To ask the Secretary of State for Social Security, pursuant to his answer of 4 February,Official Report, columns 58–59, on the real value of SERPS, if he will give the figures for the scheme as it was before the Social Security Act 1986 changes, but otherwise on the same basis.

Miss Widdecombe

The information requested is in the table. It is important to note that calculations of this nature can provide only a hypothetical view of the distant future based, as they are, on unchanged assumptions about economic variables and policies.

Amounts of additional pension at award in 1990 price terms pre 1986 act basis weekly amounts of additional pension payable on retirement on 6 April each year
Year UEL1 Average earnings Half average earnings
1990 48.65 31.85 12.70
1991 53.20 34.95 13.90
1992 57.55 38.10 15.15
1993 62.15 41.50 16.65
1994 66.70 44.90 18.00
1995 71.35 48.40 19.45
1996 76.25 52.25 21.15
1997 81.10 56.00 22.75
1998 86.00 59.90 24.45
1999 87.25 60.85 24.85
2000 88.75 61.95 25.45
2001 90.10 62.95 25.95
2002 91.55 64.00 26.45
2003 93.00 65.05 26.95
2004 94.50 66.20 27.55
2005 96.05 67.35 28.15
2006 97.55 68.40 28.65
2007 99.10 69.55 29.20
2008 100.65 70.70 29.80
2009 102.30 71.90 30.40
2010 103.90 73.05 30.95
2011 105.50 74.25 31.55
2012 107.20 75.45 32.20
2013 108.85 76.65 32.75
2014 110.55 77.90 33.35
2015 112.30 79.20 34.00
2016 114.10 80.55 34.70
2017 115.90 81.85 35.35
2018 117.65 83.10 36.00
2019 119.55 84.50 36.70
2020 121.35 85.80 37.35
2021 123.30 87.25 38.05
2022 125.20 88.65 38.75
2023 127.15 90.05 39.45
2024 129.15 91.50 40.20
2025 131.10 92.95 40.90
2026 133.15 94.45 41.65
Year UEL1 Average earnings Half average earnings
2027 135.25 95.95 42.40
2028 135.50 97.20 43.05
2029 135.85 98.30 43.55

From 1990 onwards 5 per cent. prices and 6.5 per cent. earnings assumed.

1 UEL = Upper Earnings Limit.