State Earnings-Related Pension Scheme

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State Earnings-Related Pension Scheme

Also called SERPS. A voluntary state pension scheme formerly available to citizens of the United Kingdom. It granted higher payments to pensioners following retirement in exchange for higher National Insurance contributions. Payments were based on average earnings over a pensioner's career. It was replaced in 2002 by the Second State Pension, which offers higher benefits to lower and middle income pensioners.
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Holton notes that a DC SERP looks the same as an NQDCplan, but it is usually funded by employer money only.
Hypothesis 3: OBSE will moderate the relationship between SERPs and ERB, such that higher OBSE will strengthen the relationship between SERPs and ERB.
Still, some boards may still be reluctant to embrace SERPs, according to a D.
Since excess benefit plans can only make a participant whole for the loss of benefits caused by the IRC Section 415 limits, a SERP plan is usually the best choice for employees who earn considerably more than the qualified plan compensation limit.
To trace your pensions and to find out if you have ever contracted out of SERPS or S2P, all you need is your National Insurance number and, if possible, any relevant documentation.
So it cannot be abused by webmasters eager to unleash smart automatic link clicking bots on the Google SERPs.
A Supplemental Executive Retirement Plan (SERP) is an agreement between an employer and a selected key employee in which the employer agrees to provide a specified benefit at retirement, or upon termination, disability, or death prior to retirement.
Understandably, few defined-benefit supplemental executive retirement plans (SERPs) are being put into action today because as a category, defined-benefit plans have plummeted.
For years, Supplemental Executive Retirement Plans (SERPs) and deferred compensation plans have been well-established tools in the high-stakes competition to bring in the best-qualified future leaders.
And COLI's use in supplemental executive retirement plans, or SERPs, remained steady from the 2005 survey results.
The vast majority of people who contracted out of Serps and the State Second Pension were not mis-sold policies, the City regulator said yesterday.