STATE SECOND PENSION, THE


Meaning of STATE SECOND PENSION, THE in English

State Second Pension, the BrE AmE ( abbreviation S2P )

a UK government ↑ pension scheme that increases the amount of extra pension payments made to workers on low and middle incomes and to people who are ill or have disabilities (↑ disability ). These pension payments were formerly made through the State Earnings-Related Pension Scheme (SERPS).

Longman Dictionary of Contemporary English.      Longman - Словарь современного английского языка.