BPS Payment Reduction Calculator
The Basic Payment Scheme is being phased out, and payments will gradually reduce. We now have confirmation that the final payments will be made for the 2027 scheme year. Reductions will start from 2021 on a sliding scale dependent on the total value of your current payment.
We have developed a quick calculator tool you can use to get an idea of your expected payment in 2021 which you can access by clicking here.
From 2022 the reductions will increase, but there has been no announcement yet as to what the reductions will be beyond 2021.