Allocated Pension definition

Allocated Pension means a pension which satisfies the Relevant Law and in particular Regulation 1.06(4) of the SIS Regulations PROVIDED THAT no such pension shall commence on or after the Prescribed Date.
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Allocated Pension means a pension which complies with the standards for an allocated pension set out in the Relevant Law, and which commenced to be paid before 1 July 2007.
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Allocated Pension means a pension payable under Schedule 3.
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Examples of Allocated Pension in a sentence

  • After joining the First Super Transition to Retirement Pension or First Super Allocated Pension, you will receive a welcome letter.

  • Plan for RetirementFirst Super Transition to Retirement Allocated PensionThe First Super Transition to Retirement Allocated Pension (TTR Pension) can provide a tax-effective income to members who are still working and have reached Preservation Age (see table on page 3).

  • D4.2 For the purposes of a Term Allocated Pension paid under this Schedule, the Schedule is deemed to include any other requirement of regulations 1.06(8) and 1.07C of the Superannuation Industry (Supervision) Regulations and any other requirement of Superannuation Law that the rules under which the pension is provided must meet for the pension to be a pension for the purposes of the Superannuation Industry (Supervision) Act.

  • Sixty-six individuals registered for the conference, and approximately sixty attended, with good representation from PCC faculty.

  • However, to the extent that the Death Benefit: (a) reverts, the value of the reversionary component must not exceed 100% of the value of the Member’s Term Allocated Pension immediately before the reversion; (b) is commuted to pay a lump sum, the amount paid must not exceed the value of the Member’s Term Allocated Pension immediately before the commutation.

  • This PDS details how a First Super Allocated Pension operates, including its benefits and features.

  • MISCELLANEOUS D4.1 Where the Trustee pays a pension under this Term Allocated Pension Category then: (a) the capital value of the pension and the income from it must not be used as security for a borrowing unless Superannuation Law permits; and (b) the pension must not be transferred to another person unless permitted by Superannuation Law.

  • D4.3 Despite any rule set out in this Schedule or Deed, the Trustee may determine that a rule set out, or deemed to be included in the Schedule will not apply to a Term Allocated Pension, if that rule is not required in order for the Term Allocated Pension to comply with those standards prescribed under Superannuation Law with which it is intended to comply.

  • If permitted by the Trustee, a Member may give the Trustee a Death Benefit Binding Nomination, Death Benefit Binding Direction, Death Benefit Non- binding Nomination and, in respect of an Account Based Income Stream and Term Allocated Pension, Reversionary Pension Direction for each of the Member’s Categories.

  • Plan for RetirementFirst Super Transition to Retirement Allocated Pension (TTR Pension) lets you ease into retirement by replacing income lost by reducing your working hours.


More Definitions of Allocated Pension

Allocated Pension means any part of the pension which has been commuted for a lump sum or surrendered to provide a dependant's pension.
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Related to Allocated Pension

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Actuarial equivalent means a benefit of equal value when

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • SERP Benefit means the benefit described in Section 5.1.

  • Nonelective Contribution means an amount contributed by a participating

  • Excess Contribution With respect to any Plan Year, the excess of: (a) the aggregate amount of Employer contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over (b) the maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of the ADPs, beginning with the highest of such percentages).

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.