A money purchase scheme that contracted out of the state second pension (S2P) before 6 April 2012. To qualify as a COMP scheme, the scheme was obliged to satisfy certain criteria set out in the Pension Schemes Act 1993. In particular, the employer had to make minimum payments to the scheme equal to the rebates that the employer and its employees received on their respective National Insurance contributions (NICs). Contracting-out on the money purchase basis was abolished with effect from 6 April 2012 and is no longer possible.