A detailed guide to State Pensions for advisers and others
A detailed guide to State Pensions for advisers and others
A detailed guide to State Pensions for advisers and others
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34<br />
<strong>State</strong> Second Pension<br />
For the period starting 6th April 2002 the revalued figure is multiplied by a figure<br />
between 10% <strong>and</strong> 50%. The percentage used depends on which b<strong>and</strong> earnings<br />
fall (see page 32) <strong>and</strong> when they reach <strong>State</strong> Pension age (see the table below).<br />
This figure is then divided by the <strong>to</strong>tal number of years between 1978/79 (or the<br />
tax year in which they reach 16, if this is later) <strong>and</strong> the tax year ending be<strong>for</strong>e<br />
the one in which they reach <strong>State</strong> Pension age.<br />
B<strong>and</strong> Percentage rates <strong>for</strong> a<br />
person reaching <strong>State</strong> pension<br />
age between 6/4/2002 – 5/4/2009<br />
1 Twice relevant SERPS percentage<br />
2 Half relevant SERPS percentage<br />
3 Same as SERPS percentage<br />
Tax year in which <strong>State</strong><br />
Pension age reached<br />
B<strong>and</strong> Percentage rates<br />
2002/03 1 47<br />
2 11.75<br />
3 23.5<br />
2003/04 1 46<br />
2 11.5<br />
3 23<br />
2004/05 1 45<br />
2 11.25<br />
3 22.5<br />
2005/06 1 44<br />
2 11<br />
3 22<br />
2006/07 1 43<br />
2 10.75<br />
3 21.5<br />
2007/08 1 42<br />
2 10.5<br />
3 21<br />
2008/09 1 41<br />
2 10.25<br />
3 20.5
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