Contracted-out mixed benefit (COMB) scheme

An occupational pension scheme that contracted out of the state second pension (www.practicallaw.com/1-200-3464) on both a salary-related and money purchase basis before 6 April 2012. Since that date, contracting-out has been permitted only on a salary-related basis, so while the contracting-out certificate relating to the money purchase section of a COMB scheme was automatically discharged on that date, the certificate relating to its salary-related section continues in force. See also contracted-out salary-related (COSR) scheme (www.practicallaw.com/9-205-6986).

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