defined contribution pension scheme
21State 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… …
22DB scheme — defined 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… …
23DC scheme — defined 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… …
24hybrid scheme — An occupational pension scheme that is neither a pure defined benefit scheme nor a pure defined contribution scheme. Hybrid schemes usually have different sections in which members accrue benefits on either a defined benefit or defined… …
25money purchase scheme — Also known as a defined contribution 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… …
26money-purchase scheme — Also known as a defined contribution 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… …
27Limited Price Indexation — or LPI is a pricing index used in the calculation of increases in certain components of scheme pension payments in the UK. The LPI is the Retail Prices Index (RPI) capped at 5%. Since the introduction of the LPI, the RPI has never reached 5%, so… …
28Personal Accounts — are a proposed new pension system for all workers in the United Kingdom that do not already have a suitable company pension scheme. They will be a simple, universally available, defined contribution pension scheme, accumulating a fund of money… …
29NEST — index habitation (dwelling place) Burton s Legal Thesaurus. William C. Burton. 2006 NEST …
30Social Security (United States) — This article is about the retirement/disability program. For the general concept of providing welfare, see Social security. For other uses, see Social Security (disambiguation) …
