About the article
The new Single Tier Pension (STP) combines the basic state pension (BSP) and state second pension (S2P) to create a new flat rate pension for individuals reaching state pension age (SPA) from April 2016. The full STP – around £150 per week, £25 below the OECD poverty line – will be payable to each individual with 35 years of NI contributions or credits, with pro rata amounts for shorter records. Derived pensions will be phased out. Existing pensioners and all individuals reaching SPA before April 2016 will be excluded from STP.
About the author
Dr Jay Ginn is a Visiting Professor at Kings College London’s Institute of Gerontology. Her most recent publication is Gender, Pensions and the Lifecourse (Policy Press, 2003).