An abbreviation that can refer to either Statutory Sick Pay or State Second Pension, SSP is a term often encountered within UK employment and benefits legislation.
The State Second Pension (SSP), also known as S2P, was a former UK government scheme intended to provide an additional pension on top of the basic state pension. It was introduced in 2002 to replace the State Earnings Related Pension (SERPS) and was funded through National Insurance contributions. The scheme was phased out in April 2016 and replaced by the New State Pension, a single-tier pension system.
A mandated benefit where employers provide weekly payments to employees unable to work due to sickness for a specified period, originally subject to partial government reimbursement.
