Definition of graduated pension in English:

graduated pension

noun

  • (in the UK) a state pension paid under a system (in operation 1961–75) in which both contributions and payments were in proportion to wages or salary.

    • ‘A married woman can also get any graduated pension, SERPS, or State Second Pension.’
    • ‘The pensions forecast told her that she would receive a pension of 7p a week, from contributions to a graduated pension, an old type of additional state pension.’
    • ‘Married women can claim their additional or graduated pension even if they get no basic state pension.’
    • ‘Furthermore, if you die while deferring, your spouse will inherit all the lump sum or extra pension accrued on the basic pension, but only half of that due under the State Second Pension or graduated pension.’
    annuity, superannuation
    View synonyms