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The NHS Pension Scheme is a pension scheme for people who work for the English NHS and NHS Wales. It is administered by the NHS Business Services Authority, a special health authority of the Department of Health of the United Kingdom. The NHS Pension Scheme was created in 1948. [1]
Limited price indexation (LPI) is a pricing index used to calculate increases in components of scheme pension payments in the United Kingdom.Currently, the statutory requirement for occupational pension schemes is that pensions in payment must be increased by the lower of RPI and 2.5%.
Part II concerned administration of the pension system under an "Occupational Pensions Board", though this has now been replaced by the Pensions Regulator under the Pensions Act 2004. Part III in sections 7 to 68 concerns the certification of pension schemes, and the rule that people with entitlement to such schemes get reduced state benefits ...
A career average pension or career average revalued earnings pension (CARE pension) is a type of occupational pension scheme, where people saving for retirement pay for a benefit after retirement where they will receive a sum that is calculated according to their average earnings over their career. [1]
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The State Earnings Related Pension Scheme (SERPS), originally known as the State Earnings Related Pension Supplement, was a UK Government pension arrangement, to which employees and employers contributed between 6 April 1978 and 5 April 2002, when it was replaced by the State Second Pension.