Restructure of S2P
The rules for the additional State Pension are changing. In the
future it will become a simple, single rate, weekly top-up to the
basic State Pension.
For people earning £5,304 or more a year or getting
credits for State Second Pension, it will start to build up at a
flat rate of around £1.60 a week (both figures in 2011/12
money) for each qualifying year. The exact date from which this
will start has yet to be fixed, but it is expected to be between
2012 and 2015.
The current earnings-related element built up by people earning
between £14,400 and £40,040 a year (in 2011/12) will be
gradually withdrawn, so that people will build up entitlement on a
completely flat-rate basis by around 2030 or shortly afterwards.
These changes to additional State Pension are intended to make it
easier for you to understand how your State Pension is worked out
and estimate how much you will receive.
Increase to the State Pension Age (SPA)
The SPA is undergoing radical changes which see it rise to 65
for women between 2010 and 2018 and then to 66, 67 and 68
for both men and women.
Click here for full
details about the changes.
