The Association of Members of
IBM UK Pension Plans (AMIPP)
 
Acronyms/Abbreviations (Updated August 2009)
 

Acronyms/Abbreviations

AMIPP Association of Members of IBM UK Pension Plans
ASC Additional Smart Contribution
AVC Additional Voluntary Contribution
BYPE Best Year's Pensionable Earnings
CAC Central Arbitration Committee              The adjudication mechanism for union recognition.
CETV Cash Equivalent Transfer Value
DB Defined Benefit - a final salary scheme
DC Defined Contribution - a money purchase scheme
EPS Earnings per Share
ERDF Early Retirement Discount Factor
ESI Employee Satisfaction Index
FPE Final Pensionable Earnings
FUD Fear, Uncertainty and Doubt
GAD Government Actuary's Department
IDRP Internal Dispute Resolution Process
IFA Independent Financial Adviser
IMT Integrated Marketing Team
LEL Lower Earnings Limit - also see UEL
LPI Limited Price Index - a capped RPI
MIS Management Initiated Separation
MND Member Nominated Director    Same as MED, Member Elected Director, in IBM case.
NAPF National Association of Pension Funds
NI National Insurance
NRA Normal Retirement Age
OPAS Occupational Pensions Advisory Service - now replaced by TPAS
OPO Office of the Pensions Ombudsman
PBC Personal Business Commitment
PCC Pensions Consultation Committee
PIP Pensions in Payment      Also Performance Improvement Program
PPF Pension Protection Fund
PPP Personal Pension Plan - same as PPS
PPS Personal Pension Scheme - same as PPP
PTI Pre Tax Income
RPI Retail Price Index
S2P State Second Pension
SERPS State Earnings Related Pension Scheme
SIP Salary Improvement (or Increase) Program
SIPP Self-Invested Personal Pension
TPAS The Pensions Advisory Service
TUPE Transfer of Undertakings (Protection of Employment)
UEL Upper Earnings Limit - also see LEL
UKI UK and Ireland

 

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