OCC

 

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OCC

See: Options Clearing Corporation



OCC

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Occupational pension scheme

Occupational pension scheme

A pension scheme generated by a company or organisation for the benefit of its employees. In 'contributory' schemes both the employer and employee contribute to a fund which grows free of tax during the savings period. In 'non-contributory' schemes, only the employer contributes.The amount paid out to the employee on retirement will depend on the type of scheme:with a defined contribution plan, the amount paid is calculated by reference to the contributions put inwith a defined benefit plan, the amount paid depends on the number of years service and the final salary of the employeeAt retirement the employee draws a pension income which is subject to tax.


Options Clearing Corporation (OCC)

Options Clearing Corporation (OCC)

Applies to derivative products. Financial institution that is the actual issuer and guarantor of all listed option contracts.


Occupational Pensions Regulatory Authority

Occupational Pensions Regulatory Authority

The Authority set up under the Pensions Act 1995 to make occupational pensions more secure.


Non Vessel Operating Common Carriers (NVOCC)

Non Vessel Operating Common Carriers (NVOCC)

An ocean carrier that does not own or operate their own vessels. They use less than full containerloads which they ship on actual ship lines. They issue their own bills of lading which are backed up by actual on board ocean bills of lading issued to them by the other carrier.




 
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