SERPS

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 occupational pension scheme.

Easyform Glossary of Law Terms. — UK law terms.


SERPS
United Kingdom
An additional state pension based on the employee's national insurance contributions (NICs) and earnings. It ran from 6 April 1978 to 5 April 2002 when it was replaced by the state second pension or S2P.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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