ABI |
Association of British Insurers |
ACT |
Advance Corporation Tax |
APL |
Association of Pension Lawyers |
APP |
Appropriate Personal Pension |
AVC |
Additional Voluntary Contribution |
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CEP |
Contributions Equivalent Premium |
CETV |
Cash Equivalent Transfer Value |
CGT |
Capital Gains Tax |
CIMPS |
Contracted-In Money Purchase Scheme |
COMP |
Contracted-Out Money Purchase |
COSDCS |
Contracted-Out Simplified Defined Contribution Scheme |
COSRS |
Contracted-Out Salary Related Scheme |
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DPA |
Data Protection Act |
DWP |
Department for Work and Pensions (replaced DSS in June 2001) |
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ECJ |
European Court of Justice |
ECON |
Employer’s Contracted-Out Number |
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FIA/FFA |
Fellow of the Institute of Actuaries/Fellow of the Faculty of Actuaries |
FSA |
Financial Services Authority |
FSAVC |
Free-Standing Additional Voluntary Contribution |
FSMA 00 |
Financial Services and Markets Act 2000 |
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GAD |
Government Actuary’s Department |
GMP |
Guaranteed Minimum Pension |
GPPS |
Group Personal Pension Schemes |
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HMRC |
Her Majesty's Revenue & Customs
(replaced Inland Revenue and HM Customs and Excise in April 2005) |
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ICTA 88 |
Income and Corporation Taxes Act 1988 |
IMRO |
Investment Management Regulatory Organisation |
IPA |
Individual Pension Arrangement |
IR 12 |
Inland Revenue 12 (Practice Notes) |
IR SPSS |
IR Savings Pensions Share Schemes
(replaced Pension Schemes Office (PSO) in April 2001; subsumed
within HMRC from April 2005) |
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LEL |
Lower Earnings Level |
LET |
Lower Earnings Threshold |
LPI |
Limited Price Indexation |
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MFR |
Minimum Funding Requirement |
MWR |
Money Weighted rate of Return |
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NAPF |
National Association of Pension Funds |
NIC |
National Insurance Contribution |
NPD |
Normal Pension Date |
NRA |
Normal Retirement/Retiring Age |
NRD |
Normal Retirement/Retiring Date |
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PAYE |
Pay As You Earn |
PAYG |
Pay As You Go |
PIA |
Personal Investment Authority |
PMI |
Pensions Management Institute |
PP |
Personal Pension |
PPF |
Pension Protection Fund |
PR |
Protected Rights |
PRAG |
Pensions Research Accountants Group |
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RAC
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Retirement Annuity Contracts
(offered to (mainly) the self-employed before April 1988) |
RPB |
Recognised Professional Body |
RPI |
Retail Prices Index |
RPSM |
Registered Pension Schemes Manual |
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S2P |
State Second Pension Scheme |
SDCS |
Simplified Defined Contribution Scheme |
SCON |
Scheme Contracted-Out Number |
SHP |
Stakeholder Pension |
SORP |
Statement of Recommended Practice |
SPL |
Society of Pension Lawyers |
SRI |
Socially Responsible Investment |
SSA 86 |
Social Security Act 1986 |
SSAP |
Statement of Standard Accounting Practice |
SSAS |
Small Self-Administered Scheme |
SSPA 75 |
Social Security Pensions Act 1975 |
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TPAS |
Office of The Pensions Advisory Service |
TPR |
The Pensions Regulator |
TWR |
Time Weighted rate of Return |
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UEL |
Upper Earnings Level |