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> "State Second Pension" Definition |
 State Second Pension
In April 2002 the State Second Pension replaced the State Earnings Related Pension Scheme (SERPS) to pay a top-up pension based on employed people"s earnings. Anyone earning over £3,500 but under £9,500 a year will be treated as if they earn £9,500 so their S2P could be as much as doubled. People earning between £9,500 and £21,600 will see a smaller increase. There will be no change for people earning over £21,600.Carers on less than £3,500 a year or who have no earnings will get credits for the S2P and will be treated as if they earn £9,500 a year. To qualify for credits they must get child benefit for a child under 6, be entitled to invalid care allowance or get home responsibility protection because they are caring for a sick or disabled person.Later on S2P will change and anyone earning over £9,500 will be better off opting out in favour of a private or occupational pension scheme.
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State Second Pension - In April 2002 the State Second Pension replaced the State Earnings Related Pension Scheme (SERPS) to pay a top-up pension based on employed people"s earnings. Anyone earning over £3,500 but under £9,500 a year will be treated as if they earn £9,500 so their S2P could be as much as doubled. People earning between £9,500 and £21,600 will see a smaller increase. There will be no change for people earning over £21,600.Carers on less than £3,500 a year or who have no earnings will get credits for the S2P and will be treated as if they earn £9,500 a year. To qualify for credits they must get child benefit for a child under 6, be entitled to invalid care allowance or get home responsibility protection because they are caring for a sick or disabled person.Later on S2P will change and anyone earning over £9,500 will be better off opting out in favour of a private or occupational pension scheme.
State Second Pension : in april 2002 the state second pension replaced the state earnings related pension scheme (serps) to pay a top-up pension based on employed people"s earnings. anyone earning over £3,500 but under £9,500 a year will be treated as if they earn £9,500 so their s2p could be as much as doubled. people earning between £9,500 and £21,600 will see a smaller increase. there will be no change for people earning over £21,600.carers on less than £3,500 a year or who have no earnings will get credits for the s2p and will be treated as if they earn £9,500 a year. to qualify for credits they must get child benefit for a child under 6, be entitled to invalid care allowance or get home responsibility protection because they are caring for a sick or disabled person.later on s2p will change and anyone earning over £9,500 will be better off opting out in favour of a private or occupational pension scheme.
