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State second pension (S2P)
The state second pension (formerly SERPS) is the additional state pension, payable from state pension age by the Department for Work and Pensions. Initially, S2P was an earnings-related pension but from April 2009 it began building up as a flat rate pension, achieving full flat rate accrual by around 2030.
LGPS members are contracted out of S2P and most pay lower national insurance contributions as a result. More information on the state second pension (S2P) is available from the DWP Pensions Service site.