( more) - Known as S2P, this additional state pension is paid in addition to the basic state pension. It replaced SERPS in April 2002, and now the additional pension can by built up carers, the long-term disabled and those on low incomes as well as employees (but not the self-employed). You may get a State Second Pension, even if you do not get any basic state pension.
The name given to the new additional state pension which replaced SERPS on 6th April 2002. S2P is intended to provide a more generous state pension for people on low or moderate earnings and for carers and people with a long-term illness or disability. back
This is the additional State pension (on top of basic state Retirement Pension) that used to be called State Earnings Related Pension (SERPS). The amount you receive depends on your National Insurance contributions. [ Back to A to Z list
From 6 April 2002, the State Second Pension replaced the State Earning Related Pension Scheme (SERPS). This pension provides a more generous additional state pension for low to middle earners as well as certain carers and those with a long-term illness. This pension is paid in addition to the basic State Pension and depends on your earnings during employment and National Insurance contributions you have paid.
Also known as S2P, the State Second Pension is the additional state pension, which replaced SERPS. There are two main differences with SERPS. First, all earners below the low earnings limit will have pension credits as though they were earning up to the low earnings limit. Secondly, it is a flat rate, rather than an earnings related scheme.
This is the extra state pension that replaced the extra pension known as SERPS in 2002. It is linked to your earnings whilst you are employed
The state pension scheme has been introduced to replace SERPS to enhance the basic pension.
The second pension paid for by a persons National Insurance Contributions. The pension benefits available upon retirement are based on a persons Net Relevant Earnings and the number of years worked.
The National Insurance pension which is based on an individualâ€™s earnings and benefits.
The State Second Pension reformed SERPS and focuses resources on those who need them most. It significantly boosts the additional pension of low earners and provides a second pension for carers and people with a long-term illness or disability with broken work records.
The reformed version of SERPS. This new State Second Pension is paid in addition to the Basic State Retirement Pension. It benefits low and moderate earners (also offers a better pension to lower earners than SERPS), and for the first time, disabled people with broken work records, those with a long-term illness and certain carers. Like SERPS, the amount you receive depends upon the amount you earned when in employment, although the Government aims to make it a fixed-rate pension. Self-employed people do not qualify for S2P.
This replaced the State Earnings Related Pension Scheme (SERPS) from 5 April 2002. The scheme is designed so that people who do not earn a lot will get a bigger pension than they would have got from SERPS. It is sometimes known as S2P.
The state second pension (S2P) is a partly flat rate and partly earnings related contributory benefit paid to people when they reach state pension age.
On 6 April 2002, the Labour Government introduced the State Second Pension, or S2P to provide a more generous pension provision for UK workers. The main aim of this change was to enhance existing Additional Pension (or AP) benefits for low and moderate earners and to extend access to include certain carers and people with long-term illness or disability for the first time.