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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A A protected rights personal pension results from you contracting out of the State Earnings Related Pension Scheme and put ting the National Insurance contributions with an insurer instead of in the State scheme.
WallaseyThe State Earnings Related Pension Scheme (Serps) was replaced in 2002 by the new State Second Pension (SSP).
Many people also qualify for the additional state pension and this used to be known as the State Earnings Related Pension Scheme (Serps).
It will be the result of one of the top-ups such as the State Earnings Related Pension Scheme (Serps).
SERPS - the State Earnings Related Pension Scheme - a top-up pension in addition to the basic state pension.
Although was not fully aware of all the circumstances relating to JG from Glasgow, his pension benefits appeared to reduce his entitlement to the State Earnings Related Pension Scheme (SERPS) or as it is now known, the State Second Pension (S2P).
This replaced the State Earnings Related Pension Scheme (Serps) in 2002.
Prior to April 6 last year it was known as the state earnings related pension scheme (Serps).
It largely affects those who exited the SSP's previous incarnation, the State Earnings Related Pension Scheme (SERPS), and now have small pension pots put aside which, in some cases, have almost been forgotten.
About 500,000 people will receive a new letter from the Department of Work and Pensions clarifying how much they can expect from the State Earnings Related Pension Scheme (SERPS).
The State Earnings Related Pension Scheme (SERPS) is being reduced from 25 to 15 per cent of earnings.
It was back in 1988 people were first able to contract out of the state earnings related pension scheme (SERPS).

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