State Second Pension
E510405
The State Second Pension was a UK government earnings-related additional pension scheme that supplemented the basic State Pension before being replaced by the new State Pension system.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
United Kingdom state pension scheme
ⓘ
earnings-related pension ⓘ |
| administeredBy | Department for Work and Pensions NERFINISHED ⓘ |
| allowedContractingOut | yes ⓘ |
| alsoKnownAs |
S2P
NERFINISHED
ⓘ
State 2nd Pension NERFINISHED ⓘ |
| appliesTo | employees paying Class 1 National Insurance contributions ⓘ |
| basedOn |
National Insurance contributions
ⓘ
earnings history ⓘ |
| benefitPaymentForm | regular pension income ⓘ |
| benefitStructure | earnings-related with banded accrual ⓘ |
| benefitType | defined benefit ⓘ |
| calculatedBy | accruals added for each qualifying year ⓘ |
| ceasedAccrualFor | people reaching State Pension age on or after 6 April 2016 ⓘ |
| componentOf | UK State Pension system ⓘ |
| contractingOutVia |
appropriate personal pensions
ⓘ
salary-related occupational pension schemes ⓘ |
| country | United Kingdom ⓘ |
| eligibilityBasis | qualifying years of National Insurance contributions or credits ⓘ |
| endDate | 2016-04-05 ⓘ |
| endTaxYear | 2015-2016 ⓘ |
| fundingMethod | pay-as-you-go ⓘ |
| governedBy | UK Parliament NERFINISHED ⓘ |
| indexation | uprated in line with prices or earnings according to rules in force ⓘ |
| introducedBy | Welfare Reform and Pensions Act 1999 NERFINISHED ⓘ |
| jurisdiction | Great Britain NERFINISHED ⓘ |
| legalStatus | statutory scheme ⓘ |
| linkedTo | earnings bands set in legislation ⓘ |
| paysBenefitsTo | individuals who built up entitlement before 6 April 2016 ⓘ |
| policyArea |
pensions
ⓘ
social security ⓘ |
| predecessor | State Earnings-Related Pension Scheme NERFINISHED ⓘ |
| providedAdditionalPensionTo | basic State Pension ⓘ |
| purpose |
to improve pension outcomes for low and moderate earners
ⓘ
to provide additional state pension income ⓘ |
| reformObjective |
to reduce reliance on means-tested Pension Credit
ⓘ
to simplify additional state pension provision ⓘ |
| replacedBy |
new State Pension
ⓘ
single-tier State Pension NERFINISHED ⓘ |
| shortName | SERPS replacement scheme ⓘ |
| similarSchemeIn | Northern Ireland additional state pension system ⓘ |
| startDate | 2002-04-06 ⓘ |
| startTaxYear | 2002-2003 ⓘ |
| statutoryInstrumentType | social security legislation ⓘ |
| successorScheme | new State Pension for people reaching State Pension age on or after 6 April 2016 ⓘ |
| successorSchemeStartDate | 2016-04-06 ⓘ |
| targetGroup |
certain carers
ⓘ
low earners ⓘ moderate earners ⓘ people with long-term illness or disability ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.