Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Accrual definition

What does Accrual mean? In pensions practice, accrual describes the build‑up of a member’s pension over time, usually by reference to each year of pensionable service. It is a descriptive term used across pensions law and scheme rules rather than a single statutory definition, though related concepts such as accrued or subsisting rights are defined and protected. In a defined benefit scheme, accrual is determined by the scheme’s accrual rate (for example, 1/60th of pensionable salary for each year of service), with accrued benefits typically revalued up to retirement. In a defined contribution scheme, accrual refers to the growth of the member’s pot from contributions...

UK pensions glossary for private client and family lawyers

Published by a LexisNexis Private Client expert

Practice notes

Accrual rate

The speed at which pension entitlement builds as Pensionable service is completed within a Final salary arrangement, e.g. 1/60 for each year of pensionable service.

Accrued benefits

Benefits relating to service built up to a given date, measured with reference to current earnings or projected future pay.

A-day

‘A-day’ is the widely used term for the broad pension tax ‘simplification’ reforms that came into force on 6 April 2006. These changes followed a 2004 government policy to rationalise the British tax system as it applied to pension schemes. The objective was to cut the volume of legislation accumulated under successive administrations, folding the previous eight tax regimes into a single regime for all personal and occupational pensions. Key areas covered included:

how much pension contribution was allowed;
the range of schemes an individual could invest in;
how much an individual could withdraw (and when);
and what could be done with the remaining fund.

A-Day brought in both the annual and lifetime allowance rules; see: Pensions—glossary—Annual allowance and Pensions—glossary—Lifetime allowance.

Added years

The award of extra pension by crediting additional years of pensionable service in a salary-related scheme...

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Web page updated on 22/05/2026

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