Basic State Pension
The standard rate of the Basic State Pension for a man or woman
with a full National Insurance contribution record is currently £97
a week (for the year 2010/11).
Entitlement is based on qualifying years. A qualifying
year is one when enough NI contributions have been paid or
credited.
Men and women reaching their state pension age on or after 6
April 2010 will need a total of 30 qualifying years for a full
basic state pension.
Those with fewer than 30 qualifying years will receive a reduced
basic state pension.
Each qualifying year gives you an entitlement to 1/30th of the
full basic state pension.
From 2011 onwards, the basic state pension will be increased by
whichever is the higher of the following:
- the rise in the Consumer Price Index (CPI)
- the rise in National Average Earnings (NAE)
- 2.5%