18 / 58
11
You should note that the Government intends to abolish the State Second Pension in April
2016 and replace it, and the State Basic Pension, with a single higher rate State pension. That
will not affect the benefits that you have built up in the Scheme up to the date when it is
abolished, but after April 2016 it will not be possible to contract out of the State Second
Pension.
As a consequence, your National Insurance Contributions will increase, but in return you will
begin to build up an entitlement to the new, higher, State pension.