occupational pension scheme
- occupational pension scheme
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Easyform Glossary of Law Terms. — UK law terms.
- occupational pension scheme
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A scheme set up by an employer to provide retirement and/or death benefits for its employees. They are regulated by the Pensions Regulator and generally fall into three categories:
• defined benefit schemes (most of these are final salary schemes or salary-related schemes).
• defined contribution schemes (also called money purchase schemes).
• hybrid schemes.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
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occupational pension scheme — A scheme run by the employer for whom you work, to build up a retirement pension. The maximum pension under this kind of scheme is two thirds of final salary. Financial Services Glossary * * * occupational pension scheme UK US noun [C] (UK HR ► a … Financial and business terms
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pension scheme — Any arrangement the main purpose of which is to provide a defined class of individuals (called members of the scheme) with pensions. A pension scheme may include benefits other than a pension and may provide a pension for dependants of deceased… … Accounting dictionary
occupational pension — noun A pension paid by a person s employers, usu based on a personal pension scheme, as distinct from a state pension • • • Main Entry: ↑occupy * * * occupational pension UK US noun [countable] [singular occupational pension … Useful english dictionary
registered pension scheme — With effect from 6 April 2006, both occupational pension schemes and personal pension schemes may apply to HM Revenue & Customs to be registered. A registered pension scheme must comply with the rules on the amounts of contributions and benefits… … Law dictionary
supplementary pension scheme — An occupational pension scheme established in accordance with a member state s national legislation and practice and providing supplementary pension rights. A supplementary pension scheme includes, for example, a group insurance contract or a… … Law dictionary
company pension scheme — /ˌkʌmp(ə)ni penʃən ski:m/ noun same as occupational pension scheme ● He decided to join the company’s pension scheme … Dictionary of banking and finance
