Abbreviations used in Guide for Pensions Trustees

The most common abbreviations and acronyms used in the Guide for Pension Trustees are detailed below:

ABI	Association of British Insurers
ACT	Advance Corporation Tax
APL	Association of Pension Lawyers
APP	Appropriate Personal Pension
AVC	Additional Voluntary Contribution

CEP	Contributions Equivalent Premium
CETV	Cash Equivalent Transfer Value
CGT	Capital Gains Tax
COMP	Contracted-Out Money Purchase
COSRS	Contracted-Out Salary Related Scheme
CPI	Consumer Prices Index

DB	Defined Benefit
DC	Defined Contribution
DPA	Data Protection Act
DWP	Department for Work and Pensions

ECJ	European Court of Justice
ECON	Employer’s Contracted-Out Number

FAS	Financial Assistance Scheme
FIA/FFA	Fellow of the Institute of Actuaries/Fellow of the Faculty of Actuaries
FOS	Financial Ombudsmnan Service
FSA	Financial Services Authority
FSAVC	Free-Standing Additional Voluntary Contribution
FSCS	Financial Services Compensation Scheme
FSMA 00	Financial Services and Markets Act 2000

GAD	Government Actuary’s Department
GMP	Guaranteed Minimum Pension
GPPS	Group Personal Pension Schemes

HMRC	Her Majesty's Revenue & Customs

ICTA 88	Income and Corporation Taxes Act 1988
IDRP	Internal Disputes Resolution Procedure
IR SPSS	IR Savings Pensions Share Schemes

LEL	Lower Earnings Level
LET	Lower Earnings Threshold
LPI	Limited Price Indexation

MFR	Minimum Funding Requirement
MND	Member-Nominated Director
MNT	Member-Nominated trustee
MWR	Money-Weighted rate of Return

NAPF	National Association of Pension Funds
NEST	National Employment Savings Trust
NIC	National Insurance Contribution
NISPI	National Insurance Services to the Pensions Industry
NPD	Normal Pension Date
NRA	Normal Retirement/Retiring Age
NRD	Normal Retirement/Retiring Date

PAYE	Pay As You Earn
PAYG	Pay As You Go
PMI	Pensions Management Institute
PP	Personal Pension
PPF	Pension Protection Fund
PR	Protected Rights
PRAG	Pensions Research Accountants Group

RAC	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

S2P	State Second Pension Scheme
SCON	Scheme Contracted-Out Number
SHP	Stakeholder Pension
SORP	Statement of Recommended Practice
SPC	Society of Pension Consultants
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

TPAS	Office of The Pensions Advisory Service
TPR	The Pensions Regulator
TWR	Time-Weighted rate of Return

UAP	Upper Accrual Point
UEL	Upper Earnings Level

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