defined benefit pension scheme

  • 1defined-benefit pension scheme — DB scheme An occupational pension scheme in which the rules specify the benefits to be received on retirement and the scheme is funded accordingly. The benefits are normally calculated on a formula incorporating years of service and salary levels …

    Accounting dictionary

  • 2defined-benefit pension scheme — DB scheme An occupational pension scheme in which the rules specify the benefits to be received on retirement and the scheme is funded accordingly. The benefits are normally calculated on a formula incorporating years of service and salary levels …

    Big dictionary of business and management

  • 3defined-contribution pension scheme — DC scheme A pension scheme in which the benefits are based on the value of the contributions paid in by each member. The rate of contribution is normally specified; the amount of pension an individual will receive will depend on the size of the… …

    Accounting dictionary

  • 4defined-contribution pension scheme — DC scheme A pension scheme in which the benefits are based on the value of the contributions paid in by each member. The rate of contribution is normally specified; the amount of pension an individual will receive will depend on the size of the… …

    Big dictionary of business and management

  • 5Defined 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… …

    Wikipedia

  • 6defined benefit — UK US adjective [before noun] ► HR used to describe a pension arrangement in which the value of the pension is fixed, and usually decided by the length of time you worked for a company and the salary that you earned: »a defined benefit… …

    Financial and business terms

  • 7defined-benefit — UK US adjective [before noun] ► HR used to describe a pension arrangement in which the value of the pension is fixed, and usually decided by the length of time you worked for a company and the salary that you earned: »a defined benefit… …

    Financial and business terms

  • 8defined benefit scheme — (DB scheme): An occupational pension scheme or other retirement benefit scheme which promises the member a defined level of benefit on death or retirement. Employer s contributions have then to be determined from time to time so as to cover the… …

    Law dictionary

  • 9defined-benefit scheme — (DB scheme): An occupational pension scheme or other retirement benefit scheme which promises the member a defined level of benefit on death or retirement. Employer s contributions have then to be determined from time to time so as to cover the… …

    Law dictionary

  • 10defined benefit plan —    A type of occupational pension in which the pension provision is defined (e.g., a fixed monthly amount for each year of service) and guaranteed. The employer has to make up the difference if the scheme fails to perform as well as expected.… …

    Business law dictionary

  • 11money-purchase pension scheme — A defined contribution pension scheme as opposed to a defined benefit pension scheme …

    Big dictionary of business and management

  • 12occupational pension scheme — superannuation A pension scheme open to employees within a certain trade or profession or working for a particular firm. An occupational pension scheme can either be insured or self administered. If it is insured, an insurance company pays the… …

    Accounting dictionary

  • 13occupational pension scheme — superannuation A pension scheme open to employees within a certain trade or profession or working for a particular firm. An occupational pension scheme can either be insured or self administered. If it is insured, an insurance company pays the… …

    Big dictionary of business and management

  • 14occupational pension scheme — Under the Pension Schemes Act 1993, an employer can contract out of the SERPs element of the state pension scheme (hence qualifying for contracted out rebate on National Insurance Contributions) by means of an occupational pension scheme. There… …

    Law dictionary

  • 15Pension — This article is about the retirement income arrangement. For the type of lodging, see Pension (lodging). For the mortgage repayment scheme, see Mortgage loan. Financial market participants …

    Wikipedia

  • 16Pension Protection Fund — The Board of the Pension Protection Fund (the PPF) is a Statutory Fund in the United Kingdom. It was created under the Pensions Act 2004. The Board of the PPF is a Statutory Corporation responsible for managing the Fund and for making payments to …

    Wikipedia

  • 17defined contribution scheme — (DC scheme) Also known as a money purchase scheme. A pension scheme where the benefits payable to an individual member are calculated by reference to contributions paid in to the scheme in respect of that member increased by the investment return …

    Law dictionary

  • 18defined benefits lump sum death benefit — Introduced by the Finance Act 2004, a registered pension scheme that is a defined benefit scheme may pay a defined benefits lump sum death benefit on a member s death. The scheme administrator must test the payment against the member s lifetime… …

    Law dictionary

  • 19scheme-based levy — One of the levies that the Pension Protection Fund (PPF) may raise in order to fund its operations. The scheme based levy is one element of the pension protection levy. It reflects the number of members in an eligible defined benefit scheme and… …

    Law dictionary

  • 20Pension Protection Fund — (PPF) A statutory fund, established with effect from 6 April 2005 by the Pensions Act 2004. The PPF pays compensation at a prescribed level to members of defined benefit schemes that are eligible for entry. A scheme may be eligible if its… …

    Law dictionary