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The State Second Pension (S2P), or Additional State Pension, was introduced in the UK by the Labour Government on 6 April 2002, to replace the SERPS ...
The Old State Pension, consisting of the Basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension; collectively known as Additional State Pension), is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953.
The Act amended the timetable for increasing the state pension age to 66. Under the Pensions Act 2007, the increase to 66 was due to take effect between 2024 and 2026. This Act brought forward the increase, so that state pension age for both men and women began rising from 65 in December 2018 and reached 66 in October 2020.
The State Earnings Related Pension Scheme (SERPS), originally known as the State Earnings Related Pension Supplement, was a UK Government pension arrangement, to which employees and employers contributed between 6 April 1978 and 5 April 2002, when it was replaced by the State Second Pension.
Those who reached state pension age after that date get the new state pension, worth £221.20 a week. From 6 April 2025, these will be worth £176.45 and £230.25 a week respectively.
Raising the pension age for both women and men from 65 to 68 between 2024 and 2046. Introducing national insurance credits for parents and carers so that they can build up some entitlement to the additional State Pension. End of the option to contract out of the additional State Pension. Modifications to this were made in the Pensions Act 2008.
The money-saving expert urged people to check which partner is claiming child benefit to ensure they receive the full state pension amount. Martin Lewis issues state pension warning as 200,000 ...
The Government plans to have a further review to reconsider plans for the state pension age to rise to 68.
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