contracted-out money purchase scheme
- contracted-out money purchase scheme
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Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
contracted-out — 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 … Law dictionary
contracted-out employment — United Kingdom Employment which is contracted out of the state second pension (S2P) (formerly the state earnings related pension scheme (SERPS)). Members in contracted out employment forego their S2P or SERPS pensions and instead are provided… … Law dictionary
COMP scheme — contracted out money purchase scheme (COMP scheme) A money purchase scheme that has contracted out of the state second pension (S2P). To qualify as a COMP scheme, the scheme must satisfy certain criteria set out in the Pension Schemes Act 1993.… … Law dictionary
occupational 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
State 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… … Wikipedia
protected rights — In a contracted out money purchase scheme (COMP scheme), the part of the member s pension that derives from the rebates the employer and the member receives on their national insurance contributions (NICs). Practical Law Dictionary. Glossary of… … Law dictionary
Section 32A policy — Referring to section 32A of the Pension Schemes Act 1993, a buy out policy with an insurance company that the trustees of an contracted out money purchase schemes may enter into when the scheme winds up. Broadly, the scheme members transfer their … Law dictionary
china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material … Universalium
China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast … Universalium
List of Statutory Instruments of the United Kingdom, 1987 — This is a complete list of all 1468 Statutory Instruments published in the United Kingdom in the year 1987. NOTOC 1 100* Parish and Community Meetings (Polls) Rules 1987 S.I. 1987/1 * National Health Service (Food Premises) (Scotland) Regulations … Wikipedia
