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National Pensions Board
National Pensions Policy NPPI
New Code
Nomination
Non-Contributory Scheme
Non-Member Spouse
Non-Pensionable Employment
Non-Standard PRSA
Normal Pension Age/Normal Retirement Age
Normal Pension Date/Normal Retirment Date
Normal Pensionable Age
A Board established by the Minister for Social Welfare in 1986 to advise the Minister on pension matters. Not to be confused with the Pensions Board.
NPPI (known as Nippy), this initiative was sponsored by the Department of Social, Community and Family Affairs and the Pensions Board, in the light of an ESRI report on pension coverage in 1997. The introduction of PRSAs was one outcome of the Board's 1998 report, Securing Retirement Income.
A term now practically in disuse to refer to the code of practice relating to the approval of pension schemes by the Revenue Commissioners under the 1972 Finance Act.
The naming by a member of a person or persons to whom he/she wishes any death benefit to be paid.This will usually not be binding on the trustees. Also called a wishes letter.
A pension scheme whose rules do not require any contribution from active members - i.e., the employer is liable for all contributions needed to support the scheme.
In the context of a pensions adjustment order given under the Family Law Acts, the spouse who is not a member of the scheme in which an order is being sought.
Employment in which an individual has no right to benefits from an occupational pension scheme other than lump sums and dependants' benefits payable on death in service.
A PRSA that is approved by the Pensions Board but does not meet the investment criteria imposed on standard PRSAs . Its charges are not capped.
The age by reference to which the normal retirement date is determined. See also Normal Pensionable Age.
The date at which a member of a pension scheme normally becomes entitled to receive retirement benefits. This date is the benchmark which determines early retirement and late retirement.
This term has a specific meaning in the Pensions Act . It is the later of (a) age 60 and (b) the earliest date at which a member is entitled under the rules of the scheme to receive immediate retirement benefits on leaving service, other than in circumstances where consent is required or where the benefits are subject to an actuarial reduction in excess of 3% per annum.