Acronyms etc..

Hello to all.
As a fairly new forum user I would appreciate someone posting a key to the acronyms and arcane terms used when discussing pension issues. 
Thank you in advance.


  • MX5huggy
    MX5huggy Forumite Posts: 6,785
    Part of the Furniture 1,000 Posts Name Dropper
    Which ones in particular?

    DC Defined Contribution (most normal pensions)
    DB Defined Benefit (also known as final salary (FS), generally legacy pension in the private sector but common in the public sector although they are mainly CARE (career Average (revalued earnings) not FS)

    SIPP Self Invested Personal Pension , a DC pension anyone can buy (invest in). 

    Stakeholder Pension, an old type of DC pension that is not relevant these days.

    Lifestyling - the process of moving investment from high risk to low risk automatically as you near retirement, not particularly useful these days as less people buy an Annuity.

    Annuity, buying an annual income using a lump sum so you might get £3000 per year for the rest of your life of income by giving an insurance company £100k. 

    AVC Additional Voluntary  Contributions, some DB schemes allow AVC’s along side to a match DC fund. 

    LGPS Local Government Pension Scheme


    Universities Superannuation Scheme


  • Scallypud
    Scallypud Forumite Posts: 100
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    SP - State Pension
    LS - Lump Sum
    TFLS - Tax Free Lump Sum
    OP - Operator
    OH - Other Half
  • ex-pat_scot
    ex-pat_scot Forumite Posts: 671
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    edited 21 June at 8:17AM
    GPPS - group personal pension scheme
    LTA - lifetime allowance (£1,073,100)
    AA - Annual Allowance (was £40,000 until 5.4.23; now £60,000)
    PCLS - pension commencement lump sum ("tax free cash")
    MPAA - Money Purchase Annual Allowance. Now £10,000
    SS - salary sacrifice
    Ers/ Ees NI - employers' and employee's National Insurance contributions.
    BR - Basic Rate
    HR - Higher rate
    CB - child benefit (in the context of clawback between £50,000 and £60,000 household earnings)
    UFPLS -Uncrystallised Funds Pension Lump Sum
    SOR(R) - Sequence of Returns (risk)

    There are lots more...

  • cobson
    cobson Forumite Posts: 146
    Fifth Anniversary 100 Posts
    edited 21 June at 9:00AM
    Scallypud said:
    OP - Operator
    Though it normally means Original Poster, also:

    CHOAM - Combine Honnete Ober Advancer Mercantiles
  • p00hsticks
    p00hsticks Forumite Posts: 12,335
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    Scallypud said:
    OP - Operator

    OP - Original Post or Original Poster


    nSP New State Pension (as introduced in April 2016)
    SPA - State Pension Age 
  • Sarahspangles
    Sarahspangles Forumite Posts: 1,128
    Ninth Anniversary 1,000 Posts Name Dropper
    CARE - Care Average Revalued Earnings, as used in recent LGPS and NHS schemes among others
    R85 or Rule of 85 - a special rule applying to people with membership of LGPS schemes before 2008.
  • blobbyrob
    blobbyrob Forumite Posts: 28
    Fourth Anniversary 10 Posts
    Would be handy to have this thread stickied.
  • DullGreyGuy
    DullGreyGuy Forumite Posts: 6,273
    1,000 Posts First Anniversary Name Dropper
    GMP - Guaranteed Minimum Pension
    NRA - normal retirement age
    PR - Protected Rights 

    Above has a very long list, with a couple of tongue in check ones too

  • Sarahspangles
    Sarahspangles Forumite Posts: 1,128
    Ninth Anniversary 1,000 Posts Name Dropper
    SWR - Safe Withdrawal Rate
    Trivial Commutation - Arrangement for paying out small pot as a lump sum
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