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SERPS

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AcronymDefinition
SERPSState Earnings Related Pension Scheme
SERPSSoftware Engineering Research and Practice in Sweden (conference)


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SERPS benefits now replace 25% of contributable earnings (earnings between the lower and upper earnings limits for purposes of employee payroll contribution) based on 20 best years; from 1999, 20% of career contributable earnings (49 years for men and, by 2020, 49 years for women).
In the White Paper proposals currently before Parliament, the government has dropped the provision to abolish SERPS as a result of public support for the program.
Legislated in 1975, SERPS was designed to supplement the basic social security pension as well as to provide a pension more closely associated to actual earnings.
 
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