Early Leaver
Early Retirement
Earmarked Contributions
Earnings Cap
Eligibility
Employer
Endowment Assurance
Equal Access
Equal Treatment
Escalation
Exchange of Letters
Excluded Employee
Ex-Gratia Benefit
Exempt Approved Scheme
Exempt Unit Trust
Expression of Wish
A person who ceases to be an active member of a pension scheme, other than on death, without being granted an immediate retirement benefit.
The retirement of a member with immediate benefits, before normal retirement date. The benefit may be reduced for early payment. See also Ill-health Early Retirement.
In the context of the Family Law Acts, contributions paid by or for a person under a defined contribution scheme during a period specified by the Court.
Limit, currently € 254,000 per annum, on earnings from all sources for the purpose of calculating allowable tax relief on personal contributions to all forms of pension arrangements, including PRSAs. Separate or simultaneous employments or self-employment no longer generate separate allowances
The conditions which must be met for a person to be a member of a pension scheme or to receive a particular benefit. Eligibility conditions may include provisions relating to age, completion of service, status and type of employment.
The person or body with whom the member of a pension scheme has a contract of employment relevant to that scheme.
A policy which provides for a lump sum at a future Policy maturity date or on earlier death.
Identical entry conditions for men and women.The Pensions Act requires this.
The principle requiring one sex to be treated no less favourably than the other, as embodied in EC Council Directive 86/378 and the Pensions Act (Part VII), which also requires equal treatment on grounds other than sex.
A system whereby pensions in payment and/or preserved benefits are increased regularly at a fixed or variable percentage rate. The percentage increase applied may be limited to the increase in a specified index. Escalation may be promised and paid for in advance of retirement, or may be granted on a discretionary basis after retirement takes place.
A method of creating a pension scheme trust, in which a letter from the employer constitutes all or part of the documentation of an individual pension arrangement. A copy of the letter is signed by the employee to acknowledge its terms.
An employee who will not be eligible for membership of an occupational pension scheme within six months of joining service, and who must therefore be offered membership of a standard PRSA.
A benefit provided by the employer which it is not legally required to provide. Payment of such a benefit cannot be enforced by the member.
An approved scheme which is established under irrevocable trusts, giving rise to the tax relief allowed for in the Finance Acts.
A unit trust specifically designed for pension schemes and charities, which receives the same tax treatment as a directly invested pension scheme.
See Wishes Letter.