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Managed Fund
Mature Scheme
Maximum Approvable
Means Test
Member
Member Spouse
Member Trustees
Minimum Retirement Age
Money Purchase Scheme
Money Purchase Underpin
Money Weighted Return
Multinational Pooling
An investment contract under which an insurance company or other investment manager offers participation in one or more funds consisting of a collection of pooled assets.
A defined benefit scheme in which the proportion of pensioners to active members is high, so that contributions may be less than the outflow of benefit payments.
The maximum benefit which the Benefit Commissioners will permit to be paid under an approved scheme to an individual, taking account of factors such as remuneration and service completed.
An earnings limit imposed by Government to determine eligibility for non-contributory pensions and other social assistance payments, and for certain dependants' allowances payable with contributory benefits.
A person who has been admitted to membership of a pension scheme and is entitled to benefits under the scheme.This will include active members, pensioners and deferred pensioners.
For Family Law Act purposes, the spouse who is a member of the pension scheme in question.
Trustees who are appointed by members or whose appointment by the employer has been approved by the qualified members in accordance with the regulations made under the Pensions Act.
The earliest age at which pension scheme rules would allow a member to retire with an immediate pension, other than on grounds of ill health.
Another name for a defined contribution scheme.
An arrangement in a defined benefit scheme whereby a certain minimum benefit accrues on a defined contribution basis. Usually of benefit to early leavers.
An absolute measure of the rate of return achieved on assets, which is affected by the timing of cash flows into and out of the fund. See also Time Weighted Return.
An arrangement which links the insured benefit plans of a multinational company in different locations worldwide, to obtain cost savings, improved service, possibly better non-medical limits and better financial information. May be arranged with a single insurer or a group of participating insurers in different countries.