Today I received two related questions, one via email and one via the site's Facebook forum. As both relate to the increases in the basic state pension and and the state second pension I've decided to answer them together.
I note your reply to a previous question regarding the SERPS portion of our pensions, but your reply is that the government says these benefits will increase in line with C.P.I from April 2011. Does that mean that our pension increase in April this year will also include an increase the the serps/state second pension?
Please can you tell me by what % is the state pension going up?
email address supplied.
Hi to you both,
An individual who is resident in the UK and is entitled to the full Basic State Pension (BSP) will see their weekly pension increase by £4.50 to £102.15 from April 2011.
In addition, those entitled to a state second pension will see this portion of their pension increase in line with last September's Consumer Price Index (CPI) figure, which was 3.1%.
I hope that clears things up for you both and you continue to enjoy Money to the Masses.
Looking for a financial adviser near you?
Do you need financial advice? An independent financial adviser can show you how to make the most
of your money. Find your nearest qualified and regulated adviser using this VouchedFor search tool.
Alternatively, Hargreaves Lansdown, one of the UK’s largest firms providing restricted financial advice, is offering a £200 John Lewis voucher* to new clients.