Q
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Qualified Member
Qualifying Fund Manager (QFM)
Qualifying Service
In relation to the member trustee selection process, an active member or a pensioner (but not a deferred pensioner or a dependant or other beneficiary receiving payments from the scheme). Qualified Members may vote in a preliminary poll or an election.
A financial institution authorized under the 1999 Finance Act to operate Approved Retirement Funds (ARFs) on behalf of the self-employed and proprietary directors. Includes: banks, building societies, credit unions, the Post Office Savings Bank, bodies authorized for collective investments such as unit trusts, UCITs, etc., and members of the Irish or any EU Stock Exchange who have notified the Revenue Commissioners of their intention to act as QFMs.
A term defined in the Pensions Act as the service to be taken into account to entitle a pension scheme member to preserved benefits on leaving service. Currently it is two years reckonable service, including any period represented by a transfer value paid in from another pension scheme.