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Phased retirement |
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Phased retirementThe arrangement of a personal pension plan in segments to enable the policy holder to take a pension in stages. The lump sum entitlement is also phased. The policy holder may elect to phase the purchase of an annuity or to phase income drawdown (see personal pension plan).Similar MatchesIndividual Retirement Account (IRA)Individual Retirement Account (IRA)A retirement account that may be established by an employed person. IRA contributions are tax deductible according to certain guidelines, and the gains in the account are tax-deferred. Retirement Protection Act of 1994Retirement Protection Act of 1994Legislation designed to protect the pension benefits of workers and retirees by increasing required support of pension plans by employers. Retirement reliefRetirement reliefA special relief for Capital Gains Tax purposes which applies when an individual aged 55 or over disposes of his business or an interest in a business. 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 This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket.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. Bonds Enabling Annual Retirement Savings (BEARS)Bonds Enabling Annual Retirement Savings (BEARS)Holders of BEARS receive the face value of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price. Further SuggestionsRegistered Retirement Savings Plan (RRSP)Employee Retirement Income Security Act (ERISA) individual retirement account unfunded unapproved retirement benefits scheme Tax deferred retirement plans Normal retirement Debt retirement normal retirement age retirement annuity contract (RAC) Retirement Employee Retirement Income Security Act early retirement normal retirement date |
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