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Glossary > S > "SERPS" Definition

SERPS

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.

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SERPS - 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.

SERPS : 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.