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Normal retirement age |
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Normal retirement ageThe age at which an individual normally retires (60 to 70 for men and 55 to 70 for women). Men qualify for the state pension at 65 and women currently qualify at 60. However the qualifying normal retirement age for women will be increasing depending on their date of birth, the scale applying for those born after 6th April 1950. For personal pension plans individuals may take retirement between the ages of 50 and 75 and for retirement annuities between the ages of 60 and 75.Similar MatchesEmployee Retirement Income Security ActEmployee Retirement Income Security ActIn the US, a federal law introduced for the protection of participants in private pension plans. IRA (individual Retirement Account)IRA (individual Retirement Account)Savings programs available to individuals. The plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA'S. Unfunded unapproved retirement benefits schemeUnfunded unapproved retirement benefits schemeAn unfunded occupational pension scheme that is not designed to be approved by the Pension Schemes Office. Debt retirementDebt retirementThe complete repayment of debt. See: Sinking fund. Normal retirementNormal retirementThe age or number of working years after which a pension plan beneficiary can retire and receive unreduced benefits immediately. Further Suggestionsretirement reliefEmployee Retirement Income Security Act (ERISA) Individual Retirement Account (IRA) phased retirement early retirement normal retirement date Bonds Enabling Annual Retirement Savings (BEARS) Retirement Protection Act of 1994 retirement annuity contract (RAC) individual retirement account Retirement Registered Retirement Savings Plan (RRSP) Tax deferred retirement plans |
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