Meaning of “State Second Pension” in the English Dictionary


"State Second Pension" in Business English

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State Second Pensionnoun [ C or U ]

also state second pension uk us abbreviation S2P

GOVERNMENT, FINANCE in the UK, a pension in addition to the basic state pension:

He is also paying into the state second pension (S2P) through his national insurance contributions, which will provide a further pension.
The state second pension was introduced in 2002.

(Definition of “State Second Pension” from the Cambridge Business English Dictionary © Cambridge University Press)