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General Average Contribution |
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General Average ContributionThe amount of money paid by each shipper involved in a General Average.General Average Contribution Similar MatchesFree standing additional voluntary contributionsFree standing additional voluntary contributionsAn employee's pension scheme which is additional to but independent from his occupational pension scheme. The maximum amount which may currently be contributed to an employee's pension fund is 15% of salary (which includes benefits in kind) including his company scheme. For example if an employee is contributing 10% of his salary to a company scheme, a further 5% can be paid by that employee in each tax year into FSAVCs or AVCs. However, the employer and employee contributions when combined must not produce benefits in excess of Inland Revenue maximums. Defined contribution pension planDefined contribution pension planA pension plan in which benefits are dependent on contributions to and the growth of the pension fund. Voluntary deductible employee contribution planVoluntary deductible employee contribution planA type of pension plan in which an employee elects to have regular payments deducted from each pay check. Nondeductible contributionNondeductible contributionA contribution to either a traditional IRA or Roth IRA. Income tax is due on the contribution in the tax year for which the contribution is made. Additional voluntary contributionsAdditional voluntary contributionsAdditional payments to a tax deferred savings account or an occupational pension scheme by an employee to boost a pension at retirement. Further SuggestionsContributionDeductible contribution Contribution margin Excess contribution money purchase scheme (defined contributions scheme) Equal percentage contribution rule (EPCoR) Contributions Agency National Insurance (NI) Contributions Defined contribution plan Contribution Federal Insurance Contributions Act Equity contribution agreement simplified defined contribution scheme |
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