pension credit

pension credit
Introduced by the Welfare Reform and Pensions Act 1999, a pension credit is the amount used for the benefit of the ex-spouse of a member of an occupational pension scheme or a personal pension scheme under a pension-sharing order. The scheme may either use the pension credit to provide benefits for the ex-spouse in the scheme, or pay it as a transfer payment to another registered pension scheme. See also pension debit.
Related links
multi-employer scheme (multi-employer pension schemes)

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • pension credit member — A member of an occupational pension scheme or a personal pension scheme who is an ex spouse or former civil partner of an existing member, and who has received a pension credit. Related links pension credit …   Law dictionary

  • pension-sharing order — Introduced by the Welfare Reform and Pensions Act 1999, pension sharing orders apply to occupational pension schemes and personal pension schemes. The member s pension rights are valued as a cash equivalent, and part of their value is used for… …   Law dictionary

  • pension debit — Introduced by the Welfare Reform and Pensions Act 1999, a pension debit applies to a member of an occupational pension scheme or a personal pension scheme who is subject to a pension sharing order on divorcing their ex spouse. The pension debit… …   Law dictionary

  • Pension provision in the United Kingdom — UK Pension Provision falls into seven major divisions; Basic State Pension, State Second Pension (S2P), Occupational Pensions, Stakeholder Pensions, Group Personal Pensions and Personal or Individual Pensions. Personal Accounts automatic… …   Wikipedia

  • Credit Suisse — Group AG Type Aktiengesellschaft Traded as SIX: CSGN, NYSE:  …   Wikipedia

  • Credit default swap — If the reference bond performs without default, the protection buyer pays quarterly payments to the seller until maturity …   Wikipedia

  • Pension — This article is about the retirement income arrangement. For the type of lodging, see Pension (lodging). For the mortgage repayment scheme, see Mortgage loan. Financial market participants …   Wikipedia

  • Credit rating agency — Corporate finance …   Wikipedia

  • Credit union — Financial market participants Collective invest …   Wikipedia

  • Credit derivative — In finance, a credit derivative is a securitized derivative whose value is derived from the credit risk on an underlying bond, loan or any other financial asset. In this way, the credit risk is on an entity other than the counterparties to the… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”