Posted: Mar 31, 2020
One is growing much faster than the other…
The new State Pension has failed to keep up with the National Living Wage in the years since they were both set up in April 2016.
The National Living Wage (NLW) and the new State Pension (NSP) both began in April 2016. Each aims to set an income floor – the NLW during working life and the NSP from State pension age. You might therefore expect their values to be closely related, but that has not turned out to be the case.