(of pension scheme)
91pension — 1 / penSFn/ noun (C) an amount of money paid regularly by a government or company to someone who is officially considered to be too old or too ill to earn money by working: They both have their pensions to live on now that they ve retired. | a… …
92State Second Pension — On 6 April 2002, the Labour Government introduced the State Second Pension, or S2P to provide a more generous pension provision for UK workers. The main aim of this change was to enhance existing Additional Pension (or AP ) benefits for low and… …
93Guaranteed Minimum Pension — The Guaranteed Minimum Pension (GMP) is the minimum pension which a United Kingdom occupational pension scheme has to provide for those employees who were contracted out of the State Earnings Related Pension Scheme (SERPS) between 6 April 1978… …
94Self-invested personal pension — A Self Invested Personal Pension (SIPP) is the name given the type of UK government approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of HM Revenue Customs (HMRC) approved… …
95guaranteed minimum pension — An employer can contract out of the SERPs element out of the state pension scheme (hence qualifying for a contracted out rebate on NIC s ) by means of an occupational pension scheme. There are strict rules relating to occupational pension schemes …
96National Pension (Japan) — The Japanese national pension is a pension system that all registered residents of Japan, both Japanese and foreign, are required to enroll in. Since January 1, 2010 it has been managed by the Japan Pension Service. Contents 1 History 2 Types of… …
97Defined benefit pension plan — For the defined contribution pension plan, see Defined Contribution Pension Plan. In economics, a defined benefit pension plan is a major type of pension plan in which an employer promises a specified monthly benefit on retirement that is… …
98National Social Assistance Scheme — The National Social Assistance Scheme(NSAS) or National Social Assistance Programme(NSAP) was initiated on 15 August 1995. It was one giant step taken towards achieving the Directive Principles in Article 41 of the Constitution. The main aim of… …
99Qualifying registered overseas pension schemes — Qualifying Overseas Pension Schemes (QROPS)A Qualifying Overseas Pension Scheme or QROP is a an overseas pension scheme which has been approved by Her Majesty s Revenue and Customs (HMRC) to receive the transfer of UK Pension Benefits. Typically… …
100stakeholder pension — A money purchase scheme designed to provide retirement benefits, mainly for employees or the self employed. It must be registered with the Pensions Regulator. If an employer with five or more employees does not provide an occupational pension… …
