SERPS

SERPS
State Earnings-Related Pension Scheme (SERPS)
A top-up pension scheme to boost the state basic pension. Employees can build up an entitlement to SERPs by paying National Insurance Contributions on part of their earnings. Financial Services Glossary
SERPS was replaced by the State Second Pension (SP2) in April 2002, which is designed to provide a better pension than SERPs for people on a low income. People on moderate to high incomes will be encouraged to contract out of the SP2 scheme. Financial Services Glossary

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SERPS SERPS [sɜːps ǁ sɜːrps] noun FINANCE
state earnings-related pension scheme; in Britain, a former government arrangement for getting a pension (= income after you stop working) that depended on how much you paid while you were working. SERPS was in addition to the basic pension. In 2002 it was replaced by the State Second Pension

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SERPS UK US /sɜːps/ noun [S] FINANCE
► ABBREVIATION for State Earnings Related Pension Scheme: a system in the UK for saving money for a pension that you have in addition to your main pension

Financial and business terms. 2012.

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Look at other dictionaries:

  • SERPS — Entitlement to SERPs is in addition to the basic pension and as its amount is dependent on the claimant s earnings since April 1978 on which employee National Insurance Contributions (NIC) have been paid. SERPs can be replaced by a contracted out …   Law dictionary

  • SERPS — may refer to:* State Earnings Related Pension Scheme, a UK Government pension arrangement from April 6 1978 to April 5 2002 * SERPs, short for search engine results pages …   Wikipedia

  • Serps — (Sierps), Stadt im Kreise Mlawa des Gouvernements Plock im russischen Königreich Polen, an der Sierpsiencia, zwischen Morästen; 1 Schloß, 2 Kirchen, vormaliges Benedictinernonnenkloster, 1 Synagoge; 600 Häuser u. 5015 Ew., wovon fast die Hälfte… …   Pierer's Universal-Lexikon

  • SERPS — State Earnings Related Pension Scheme a British government system which pays a regular income to people who have stopped working because they are old, based on the amount that they earned while they were working …   Dictionary of contemporary English

  • SERPS — ➡ pensions * * * …   Universalium

  • SERPS — State Earnings Related Pension Scheme (Governmental) …   Abbreviations dictionary

  • SERPS — Service Propulsion System ( > IEEE Standard Dictionary ) …   Acronyms

  • SERPS — Service Propulsion System ( > IEEE Standard Dictionary ) …   Acronyms von A bis Z

  • SERPS —   An acronym for State Earnings Related Pension Scheme …   International financial encyclopaedia

  • SERPS — [sə:ps] abbreviation (in the UK) state earnings related pension scheme …   English new terms dictionary

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