nSP

E510406

nSP is the commonly used abbreviation for the United Kingdom’s New State Pension system introduced for people reaching State Pension age on or after 6 April 2016.

All labels observed (1)

Label Occurrences
nSP canonical 1

How this entity was disambiguated

Statements (45)

Predicate Object
instanceOf social security benefit
state pension system
administeredBy Department for Work and Pensions
administeredIn England
Northern Ireland
Scotland
Wales
appliesInLegalSystem English law
Northern Ireland law
Scots law
appliesTo people reaching State Pension age on or after 6 April 2016
benefitCategory old-age pension
benefitType contributory pension
componentStructure single-tier pension
country United Kingdom
currency Pound sterling
eligibilityCriterion having qualifying National Insurance contributions or credits
reaching State Pension age on or after 6 April 2016
fullName New State Pension
fundingModel pay-as-you-go
governedBy UK pensions legislation
hasPredecessor State Second Pension
basic State Pension
indexation triple lock policy (subject to government decisions)
introducedBy UK coalition government (2010–2015)
introducedOn 2016-04-06
isAbbreviationFor New State Pension
jurisdiction United Kingdom
languageOfOfficialInformation English
Welsh
legislatedBy Pensions Act 2014
paidBy UK government
paymentFrequency weekly
paymentMethod cash benefit
pensionAgeLinkedTo State Pension age
policyGoal improve adequacy of retirement income for some groups
simplification of State Pension system
reformOf UK State Pension system
linked to: State Pension
replaced State Second Pension (S2P) for new pensioners
basic State Pension system for new pensioners
requires National Insurance record
shortName nSP
startDate 2016-04-06
targetGroup eligible UK residents
retired individuals

How these facts were elicited

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.