SERPSSERPS /sɜːps $ sɜːrps/ 
(State Earnings-Related Pension Scheme) a former British government system which paid a regular income to people who had stopped working because they were old, based on the amount that they earned while they were working. SERPS was replaced n 2002 by the State Second Pension which provides an increased extra state pension for people with low or middle incomes.
(State Earnings-Related Pension Scheme) a former British government system which paid a regular income to people who had stopped working because they were old, based on the amount that they earned while they were working. SERPS was replaced n 2002 by the State Second Pension which provides an increased extra state pension for people with low or middle incomes.