The State Earnings Related Pension Scheme has been replaced by the State Second Pension and is an amount that is payable to employees who were members of the scheme.

BBC: Fergus Muirhead

Currently, everybody earning more than a basic income is legally required to make modest payments either towards the State Earnings-Related Pension Scheme or into a private pension.

ECONOMIST: The great pension debate

The new system will be funded in part by the early abolition of the state second pension, an earnings-related scheme.

ECONOMIST: A new state pension