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.

All labels observed (3)

How this entity was disambiguated

Statements (50)

Predicate Object
instanceOf United Kingdom state pension scheme ⓘ
earnings-related pension ⓘ
administeredBy Department for Work and Pensions ⓘ
allowedContractingOut yes ⓘ
alsoKnownAs S2P ⓘ
State 2nd Pension ⓘ
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 ⓘ
linked to: British Parliament
indexation uprated in line with prices or earnings according to rules in force ⓘ
introducedBy Welfare Reform and Pensions Act 1999 ⓘ
jurisdiction Great Britain ⓘ
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 ⓘ
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 ⓘ
linked to: New State Pension
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 ⓘ

How these facts were elicited

Referenced by (8)

Full triples — surface form annotated when it differs from this entity's canonical label.

New State Pension → replaced → State Second Pension ⓘ
Basic State Pension → canBeIncreasedBy → State Second Pension ⓘ
Additional State Pension → hasComponent → State Earnings-Related Pension Scheme ⓘ
linked to: State Second Pension
Additional State Pension → hasComponent → State Second Pension ⓘ
State Second Pension → alsoKnownAs → State 2nd Pension ⓘ
linked to: State Second Pension
State Second Pension → predecessor → State Earnings-Related Pension Scheme ⓘ
linked to: State Second Pension
nSP → hasPredecessor → State Second Pension ⓘ
Pensions Act 2014 → reforms → State Second Pension ⓘ