BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is also known as Additional State Pension?
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Basic state pension
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State First Related Pension
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State Earnings-Related Pension
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None of the above
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Explanation:
Detailed explanation-1: -Additional State Pension, also known as the State Earnings-Related Pension Scheme (SERPS) and State Second Pension, is an extra amount of money you could get on top of your basic State Pension if you’re a man born before 6 April 1951 or a woman born before 6 April 1953.
Detailed explanation-2: -The State Second Pension (S2P), or Additional State Pension, was introduced in the UK by the Labour Government on 6 April 2002, to replace the SERPS (State Earnings-Related Pension Scheme).
There is 1 question to complete.