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Master pension plan |
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Master pension planSee: Prototype planMaster pension plan Similar MatchesExecutive pension planExecutive pension planA pension plan which is tailored for directors and senior executive staff. Unfunded pension planUnfunded pension planA pension plan which is funded by an employer from current income for the benefit of retirees. 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. Appropriate personal pension planAppropriate personal pension planA pension plan in which employer and employee pay full rate National Insurance contributions equivalent to the employee contracting into S2P. This rate will be greater than the rate paid by contracting out of S2P.The difference between these rates, the contracted-out rebate, is paid by the Government into a scheme known as an appropriate personal pension plan which buys pension benefits at retirement age known as protected rights. Provided an employee qualifies, incentive payments may also be paid by the Government into the scheme.The contracted-out rebate plus any incentive payments are known as minimum contributions. Payment of minimum contributions into an appropriate personal pension plan results in a reduction of S2P benefit at retirement age as though the employee had contracted out through a final salary related scheme. Overfunded pension planOverfunded pension planA pension plan that has a positive surplus (i.e., assets exceed liabilities). Further Suggestionsbasic state pensiongroup personal pension company pension scheme deferred state pension Pension Benefit Guaranty Corporation (PBGC) non contributory pension plan Pension Schemes Registry State Pension pension fund Occupational Pensions Regulatory Authority pension forecast Pension mortgage simplified employee pension plan Salary Reduction Simplified Employee Pension Plan (SARSEP) Pension plan stakeholder pension Pension plan Inland Revenue Pension Schemes Office Pension liabilities Contingent pension liability pension plan Pension reversion State Earnings Related Pension Scheme personal pension plan pension credit |
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