This stands for State Earnings Related Pension.
This is the extra state pension that employed people could build up until April 2002. It has now been replaced by the State Second Pension (or S2P).
Anyone who paid national insurance contributions will have built up some SERPS pension unless they:
*were a member of a contracted out occupational pension scheme
*had individually opted out of SERPS so that their contributions were paid into an *appropriate personal pension instead.
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