State pensions
Protected Rights have been freed.
There are two types of State pension
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1The Basic State Pension
This is paid at a set rate by the State, provided you have made
a sufficient National Insurance contribution throughout your
working life. Most people will qualify, although there are of
course various conditions surrounding this.
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2The State Second Pension
This applies to employees who have earnings above a certain
amount and have paid the appropriate National Insurance
Contributions on these earnings. They will be entitled to an
additional State pension, known as the State Second Pension and
prior to April 2002, was known as the State Earnings Related
Pension Scheme (SERPS).