W

A | B | C | D | E | F | G | H |  I| J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Whistle Blowing
Wishes Letter
Winding Up
Withholding Tax
With Profits Policy      


Whistle Blowing

A term for voluntary or compulsory reporting to the Pensions Board as provided under Sections 83 and 84 of the Pensions Act. See entries under Reporting.


Wishes Letter

See Nomination.


Winding Up

The process of terminating a pension scheme, usually by applying the assets to the purchase of immediate and deferred annuities or buyout bonds; by transferring annuities already purchased to the ownership of the payees; or by transferring the assets and liabilities to another pension scheme in accordance with scheme documentation. A scheme is not wound up until no further assets remain under the control of its trustees.


Withholding Tax

Tax deducted from overseas investment income. May be reclaimable.


With Profits Policy

An insurance policy under which a share of surpluses disclosed by actuarial valuations of the insurance company's life and pensions business is payable as an addition to guaranteed benefits or as a reduction in future premiums.