Appropriate personal pension (APP) scheme | Practical Law

Appropriate personal pension (APP) scheme | Practical Law

Appropriate personal pension (APP) scheme

Appropriate personal pension (APP) scheme

Practical Law UK Glossary 7-504-9837 (Approx. 2 pages)

Glossary

Appropriate personal pension (APP) scheme

A personal pension scheme that was used by an individual before 6 April 2012 to contract out of the state second pension on the protected rights basis. To qualify as an APP scheme, the scheme was obliged to satisfy certain criteria set out in the Pension Schemes Act 1993. Contracting out on a protected rights basis was abolished with effect from 6 April 2012 and is no longer possible.