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Advance funded pension plan |
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Advance funded pension planA pension plan in which funds are set aside in advance of the date of retirement.Advance funded pension plan Similar MatchesKeogh pension planKeogh pension planIn the US, a tax deferred retirement savings plan for the self employed. Contributions are based on a percentage of earned income and are tax deductible. Investment growth is tax deferred until the withdrawal of capital. Contingent pension liabilityContingent pension liabilityUnder ERISA, a firm is liable to its pension plan participants for up to 39% of the net worth of the firm. Funded pension planFunded pension planA pension plan in which all liabilities, including payments to be made to pensioners in the immediate future, are completely funded. State Second PensionState Second PensionIn April 2002 the State Second Pension replaced the State Earnings Related Pension Scheme (SERPS) to pay a top-up pension based on employed people's earnings. Anyone earning over £3,500 but under £9,500 a year will be treated as if they earn £9,500 so their S2P could be as much as doubled. People earning between £9,500 and £21,600 will see a smaller increase. There will be no change for people earning over £21,600.Carers on less than £3,500 a year or who have no earnings will get credits for the S2P and will be treated as if they earn £9,500 a year. To qualify for credits they must get child benefit for a child under 6, be entitled to invalid care allowance or get home responsibility protection because they are caring for a sick or disabled person.Later on S2P will change and anyone earning over £9,500 will be better off opting out in favour of a private or occupational pension scheme. Non contributory pension planNon contributory pension planA pension plan in which an employee does not make contributions. The plan is funded totally by the employer. Further SuggestionsNational Insurance (NI) Basic PensionPersonal pension Pension Benefit Guaranty Corporation Inland Revenue Pension Schemes Office executive pension plan appropriate personal pension plan Pensions Compensation Board pension plan National Insurance Pension (State Pension) basic state pension Pension reversion defined benefit pension plan personal pension scheme Overfunded pension plan Pension Schemes Registry defined contribution pension plan occupational pension scheme Occupational Pensions Regulatory Authority Salary Reduction Simplified Employee Pension Plan (SARSEP) Pension sponsors pension forecast deferred state pension equivalent pension benefit stakeholder pension pension mortgage |
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