Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,897,530,205 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Second State Pension

   Also found in: Wikipedia 0.01 sec.
Second State Pension
A voluntary state pension scheme available to citizens of the United Kingdom. It grants higher payments to pensioners following retirement in exchange for higher National Insurance contributions. Payments are based on average earnings over a pensioner's career. It was created in 2002 to replace the State Earnings-Related Pension Scheme, which offered lower benefits to lower and middle income pensioners.


Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
asp If you have made enough National Insurance contributions, you will also be entitled to the Second State Pension, unless you have opted out of this.
Also, being self-employed means you have to play 'pensions catch-up': you have no employer to pay into your scheme and you do not build up entitlement to second state pension, worth about £3,500 a year in retirement, he points out.
Although it is possible to contract back in to the second state pension at a later date and as retirement nears.
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.