Funded pension plan


 

Home
Site Map
Add Term
Search
About Us
Contributors

Funded pension plan

A pension plan in which all liabilities, including payments to be made to pensioners in the immediate future, are completely funded.



Funded pension plan

Similar Matches

Personal pension plan

Personal pension plan

A savings scheme introduced by the government in 1985 to enable the self employed, and employees working for companies not operating a group pension scheme, to build up a pension fund for retirement.PPPs are money purchase schemes and effectively replace what was known as a retirement annuity contract (RAC).Contributions to PPPs receive full tax relief up to maximum given percentages of net earnings for a range of ages.Life assurance may be purchased with up to 5% of net relevant earnings which will receive full tax relief. This percentage is included within the maximum contributions allowable.An employer may contribute to a person's PPP but this is not obligatory.Personal pensions can move with individuals when they change jobs.A PPP may be used to contract out of S2P.


Pension Benefit Guaranty Corporation

Pension Benefit Guaranty Corporation

In the US, a federal corporation, set up in conjunction with the Employee Retirement Income Security Act (ERISA) of 1974, to guarantee basic benefits to participants in pension plans which are underfunded.


State Earnings Related Pension Scheme

State Earnings Related Pension Scheme

A government scheme introduced in April 1978 which enables employees (but not the self-employed) to top up the basic pension they receive on retirement with additional pension payments based on their earnings.Employees make payments to SERPS by way of Class 1 National Insurance (NI) contributions. They can 'contract out' of SERPS and pay Class 1 contributions via a rebate which may be invested in an occupational pension or a personal pension plan.SERPS was replaced in April 2002 with the 'State Second Pension' which is designed to give more to the lower paid and middle earners, carers and the long-term disabled with broken work records. Whereas with SERPS, the more you earn, the higher your pension, S2P operate a flat rate which means that high earners will be better off opting for private pension schemes.


Pension reversion

Pension reversion

Termination of an overfunded defined benefit pension plan and ../../finance-glossary/ment of it with a life insurance company-sponsored fixed annuity plan.


Executive pension plan

Executive pension plan

A pension plan which is tailored for directors and senior executive staff.


Further Suggestions

State Second Pension
basic state pension
flexible pension
Pension Benefit Guaranty Corporation (PBGC)
Pension mortgage
Occupational Pensions Regulatory Authority
Pensions Compensation Board
National Insurance (NI) Basic Pension
simplified employee pension plan
pension forecast
Keogh pension plan
Unfunded pension plan
guaranteed minimum pension
Overfunded pension plan
defined benefit pension plan
Salary Reduction Simplified Employee Pension Plan (SARSEP)
defined contribution pension plan
Advance funded pension plan
State Pension
appropriate personal pension plan
Pension Schemes Registry
Pension sponsors
Personal pension
non contributory pension plan
Simplified Employee Pension (SEP) plan


 
All rights Reserved. Do not copy without permission. T4 Innovations Ltd