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United Kingdom: Pension system in 2008 The public scheme has two tiers, (a flatrate basic pension and an earningsrelated additional pension), which are complemented by a large voluntary private pension sector. Most employee contributors "contract out" of the state second tier into private pensions of different sorts. An income‐related benefit (pension credit) targets extra spending on the poorest pensioners.

Document Type: Review Article

Publication date: 2011-03-01

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