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PENSION PRODUCTS
GLOSSARY
State Second Pension (S2P)
This is the replacement to the SERPS scheme with effect from 6 April 2002.
Like SERPS it is an addition to the basic state pension that is available only to employed people. It is paid for through national insurance contributions. It is possible to contract out of S2P by joining an appropriate occupational or personal pension scheme.
The difference from SERPS is in the level of benefits to be provided.
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
GLOSSARY
This is the replacement to the SERPS scheme with effect from 6 April 2002.
Like SERPS it is an addition to the basic state pension that is available only to employed people. It is paid for through national insurance contributions. It is possible to contract out of S2P by joining an appropriate occupational or personal pension scheme.
The difference from SERPS is in the level of benefits to be provided.
