Lifetime Allowance Sample Clauses

Lifetime Allowance. If at 5 April 2006 you were taking a pension income from any pension scheme go to Section 5 If you have previously taken benefits from any pension scheme since 5 April 2006 go to Section 6 If this is the first time you have ever taken benefits from any pension scheme go to Section 7 5 Pre 6 April 2006 Benefits If at 5 April 2006 you were taking a pension income please provide details below; otherwise go to section 7 PLAN/SCHEME NAME PLAN/SCHEME TYPE MAXIMUM ANNUAL INCOME* If you have taken benefits since 5 April 2006 please provide the total percentage of lifetime allowance used to date* % If you have Primary Protection with lump sum rights over £375,000 on 5 April 2006 please provide the following details: DATE OF BENEFIT CRYSTALLISATION EVENT AMOUNT OF PENSION COMMENCEMENT LUMP SUM PAID Brooklands SIPP 7 Benefits Required Please confirm the benefits required Tax Free Cash I want the maximum* * 25% of the active fund value. Yes No I want a specific amount* £ * This must be within 25% of your tax free cash allowance. I want the maximum* Yes No * If your pension in in capped drawdown. I want a specific amount £ gross p.a. I want the income paid Monthy Quarterly One off ad hoc payment I want it paid In Arrears In Advance If a pension is required, the cash funding this payment must be available in the SIPP Xxxxx Xxxxx bank account before midday on the 10th of the month in which the pension payment is being paid. This will allow sufficient time to include the pension payment on the PAYE payroll which runs on the 15th of the month. The funds may take a few days thereafter to reach your personal bank account. I want to take the remaining tax free cash and close the SIPP* Yes No * This may have tax implications.
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Lifetime Allowance. The value of your individual fund being used to provide benefits must be tested against an allowance called the lifetime allowance, set by HMRC. If the lifetime allowance is exceeded, there will be a tax charge. ESL will deduct any tax charge due from your individual fund and pass this to HMRC. For further details of the circumstances in which this tax charge will arise, please contact Xxxxxx & Co. Also, your lump sum rights may be restricted if your benefits exceed the lifetime allowance.
Lifetime Allowance. The value of your individual fund being used to provide benefits must be tested against an allowance called the lifetime allowance, as set by the Finance Act. If the lifetime allowance is exceeded, there will be a tax charge.
Lifetime Allowance. A Member’s benefits will not start before age 75 unless the Member has provided evidence to the satisfaction of the Trustee of the amount of Lifetime Allowance that is available to him or her (if any). If a Member whose benefits have not started reaches age 75, and the Trustee is unable to verify the amount of Lifetime Allowance available to the Member, the Trustee will (unless it decides otherwise) treat the Member as if he or she had no Lifetime Allowance available. The Trustee will deduct the Lifetime Allowance Charge from the Member’s Personal Retirement Account and will account to HMRC for the tax due.
Lifetime Allowance. We strongly recommend this section is completed with the help of a financial adviser

Related to Lifetime Allowance

  • Travel time allowance All employees shall be paid an allowance (See Appendix A) for each day on which they present themselves for work. The allowance shall also be paid for rostered days off.

  • Car Allowance The Company shall provide the Executive an automobile allowance of $750 per month during the term of Executive’s employment hereunder.

  • Annual Allowance The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date an amount equal to two times the annual allowance to which the Executive is entitled as of the date of the Date of Termination (or, if higher, as of immediately prior to the Effective Date).

  • Mileage Allowance The state agrees to seek continued funding to provide for the payment of a mileage allowance for the use of privately owned vehicles for official travel at the rate provided in section 112.061(7)(d)1., F.S.

  • Vacation Allowance Employees in permanent positions are entitled to vacation with pay. Accrual is based upon straight time hours of working time per calendar month of service and begins on the date of appointment to a permanent position. Increased accruals begin on the first of the month following the month in which the employee qualifies. Accrual for portions of a month shall be in minimum amounts of one (1) hour calculated on the same basis as for partial month compensation pursuant to Section 5.6 of this MOU. Vacation credits may be taken in one (1) minute increments but may not be taken during the first six (6) months of employment (not necessarily synonymous with probationary status) except where sick leave has been exhausted; and none shall be allowed in excess of actual accrual at the time vacation is taken.

  • Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of 26 weeks' salary, and, in addition, full-time employees shall receive a single lump-sum payment equivalent to $1,000 for each year less than age 65 to a maximum of $5,000 upon retirement."

  • Separation Allowance If a regular full-time or regular part-time employee resigns within thirty (30) days of receiving notice of layoff, the employee shall be entitled to a separation allowance of two (2) weeks for each year of continuous service to a maximum of (26) weeks pay, and, on production of receipts from an approved educational program, within twelve (12)months of resignation, may be reimbursed for tuition fees up to a of three thousand dollars ($3,000). The displacement procedure prescribed by Article shall not operate to permit more than two displacements and the third person so displaced shall only have the right to displace another employee who has lesser bargaining unit and who is the least senior employee in all lower or identical paying classifications in the bargaining unit. This will also apply to bumping into part-time which will mean another two (2) bumps provided that the full-time employee has more seniority. The Hospital shall give each employee the bargaining unit who has actually been laid off following the completion of the bumping process, and who is to be laid off for a period of more than thirteen (13)weeks, three (3)months notice in writing of the employee’s xxx-xxxxx at the discretion of the Hospital, pay in lieu of notice. In other cases of lay-off, that exceeds two weeks, the shall give an employee in the bargaining unit acquired one weeks notice, provided however, such notice shall not be required if the lay-off occurs because of emergencies. For example: power failure, act of God, equipment breakdown, or any other conditions beyond the reasonable control of the Hospital. Article as long as there is not a laid off senior employee who is eligible for an employee who is laid off, or an employee who has displaced an employee in another position as a result of the layoff, or an employee to work in a different position than the one the employee held prior to the layoff, be entitled to to the position the employee held prior to the layoff should it become vacant within twenty-four (24) months of the layoff, provided the employee remains qualified and able to the duties of the position. Employees who have been laid off (i.e. are no longer in the Hospital) for up to (24) calendar months shall be recalled to or lower-rated classifications in the order of their seniority, provided they have the qualifications and ability to perform the available work and this not require posting. The hospital shall notify the employee of recall by registered mail, addressed to the last address on record with the hospital. The notification shall state the job to which the employee is eligible to be and the date and time at which the employee is to report for work. An employee given notice of recall by registered have three (3) days after receipt of such notice to the employee's intention, in to return to work on the date specified by the Employer or another date as mutually agreed. Any employee who does not so shall be deemed to have ceased with the Employer. The Employer be entitled to rely, for ail purposes, on the latest address of the employee contained in the records of the Employer. No new employee shall be hired in a in which a layoff has taken place employees laid off from that classification or displaced out of the classification who have been laid off or displaced for up to twenty-four (24) calendar months and are eligible for recall as prescribed in this article have been given the opportunity to to work in the classification from which the employees were laid off or displaced.

  • Training Allowance Operators who are required by the Employer to provide training to a specified level and to certify to the competency of the employees so trained shall receive twelve dollars ($12) per day while training. In such cases, the most senior qualified operator with the capability to provide training in the required class of equipment shall be given the opportunity to provide such training.

  • Education Allowance Provisions in existing Collective Agreements providing for educational allowances shall be continued in effect.

  • Sick Leave Allowance Faculty with a full-time assignment shall accrue sick leave at the rate of eight

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