State Earnings Related Pension Scheme -the part of your pension from the state which provides benefits which are additional to the basic state pension, based on how much extra money you contributed from your earnings.
State Earnings Related Pension Scheme. This is the second tier to the State provision of retirement benefits. It is available to employees who pay National Insurance contributions. If a final salary scheme is 'contracted out' of SERPS, this means that the scheme guarantees to ensure that the benefits members will receive, at normal retirement age, will equal or exceed what they would have had from the State. The advantage, from the members' point of view, is that they pay a reduced NI contribution to the State. SERPS is due to be replaced shortly by the State Second Pension (S2P).
the state earnings-related pension scheme which pays a pension based on revalued career earnings - maximum for those retiring from 2010 of 20 per cent of earnings.
STATE EARNINGS RELATED PENSION SCHEME. The additional pension provisions of the state pension scheme. Has been replaced by the State Second Pension.
This is the abbreviation for the State Earnings Related Pension Scheme and it was first introduced in April 1978 by the government. This pension plan allows employees to increase their pension with contributions based upon how much they make. Self employed individuals are not included.
State Earnings Related Pension Scheme - Now superceded by the State Second Pension - an additional State Pension entitlement built up by people earning more than the minimum on which National Insurance has to be paid (this is not available in respect of self-employed income).The maximum amount for those retiring from 2010 is 20% of earnings.
State Earnings Related Pension Scheme introduced to supplement the flat rate basic pension.
State earnings related pension scheme. People working for an employer can earn this extra state pension. They pay extra national insurance as their earnings rise above a lower limit and some of this extra national insurance is for the increased pension.
If you're employed, part of your National Insurance contributions go towards the State Earnings Related Pension Scheme, which is paid on top of your basic state pension when you retire. You can choose to contract out of SERPS, in which case the Government will pay the money that would have gone into SERPS into a personal pension of your choice. See: State Earnings Related Pension Scheme.
The State Earnings Related Pension (SERPS) is now known as the State Second Pension
State Earnings Related Pension Scheme - additional state pension entitlement built up by people earning more than the minimum on which National Insurance has to be paid (this is not available in respect of self-employed income). The State Second Pension replaced SERPS on 6th April 2002. back
State Earnings Related Pension Scheme. Earnings related pension based on earnings between LEL and UEL.
State Earnings Related Pension Scheme" & _ " SERPS is now called the State Second Pension.
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 occupational pension scheme.
State Earnings Related Pension Scheme. The earnings related part of the state pension scheme, which provides benefits which are additional to the basic state pension.
If you're employed in the UK, some of your National Insurance contributions go towards SERPS. This is an earnings related pension which is paid to you when you retire, on top of your basic state pension. If you decide to 'contract out' of SERPS, the Government will pay the money you would have contributed, into a personal pension of your choice.
Part of an employee's National Insurance contributions goes into SERPS (State Earnings-Related Pension Scheme), which is paid on top of the Basic State Pension on retirement. The SERPS pension, payable when you reach State pension age, depends on your earnings while you were in employment and the National Insurance contributions paid. SERPS is paid in addition to the Basic State Pension. This was replaced by the State Second Pension in April 2002
