Definition
Regular income from the state paid to retired people who have made contributions during their life. In the UK, the retirement age for men is 65 and for women is 60. The basic state pensions is currently £82.05 a week for single people and £131.20 for couples (2005-2006). This rises in line with price inflation.
To qualify individuals must have made full National Insurance contributions. Men must have worked for 44 years and women for 39 years, or have received a special waiver such as invalid care allowance.