pension payment
41State 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… …
42State Earnings-Related Pension Scheme — The State Earnings Related Pension Scheme (SERPS) is a UK Government pension arrangement. The scheme ran from 6 April 1978 to 5 April 2002. Everybody who paid full class 1 National Insurance at some point between 1978 and 2002 earned a pension… …
43Guaranteed 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… …
44Personal pension scheme — A Personal Pension Scheme (PPS), sometimes called a Personal Pension Plan (PPP), is a UK tax privileged individual investment vehicle, with the primary purpose of building a capital sum to provide retirement benefits, although it may also be used …
45Chile pension system — The Pension System Spanish Sistema Previsional refers to old age, disability and survivor pensions for workers in Chile [http://www.reformaprevisional.cl/reforma previsional/archivos/descargas/Manual%20Informativo.pdf Reforma Previsional, Manual… …
46old-age pension — noun a monthly payment made to someone who is retired from work • Syn: ↑retirement pension, ↑retirement check, ↑retirement benefit, ↑retirement fund, ↑superannuation • Hypernyms: ↑pension * * * …
47Frozen pension — There are two distinct meanings of frozen pension .Frozen occupational pensionPensions which have been left behind in an occupational pension scheme by people who are no longer employed by the sponsoring employer are frozen until retirement age.… …
48work-based pension scheme — Pension schemes in the UK that the Pensions Regulator has responsibility for regulating. Work based pension schemes are defined in section 5(3) of the Pensions Act 2004 to include occupational pension schemes, stakeholder pension schemes, and… …
49Unfunded Pension Plan — An employer managed retirement plan that uses the employer s current income to fund pension payments as they become necessary. This is in contrast to an advance funded pension plan where an employer sets aside funds systematically and in advance… …
50State Earnings-Related Pension Scheme — SERPS A scheme, started in 1978, run by the UK government to provide a pension for every employed person in addition to the basic state flat rate pension. The contributions are paid from part of the National Insurance payments made by employees… …
