AVC Account definition

AVC Account means, in relation to a Member, that part of the Fund which the Trustees establish and maintain as the Member’s AVC Account in respect of the additional voluntary contributions paid or treated as paid by the Member to the Scheme under MP Rule 3.3 (Members’ additional voluntary contributions);
AVC Account means the account established in the Fund for a Member who decides to contribute to the AVC Provision, into which such Member’s Additional Voluntary Contributions are made.
AVC Account means the account maintained by the Trustees in the name of a Contributing Member who has elected to pay Voluntary Contributions under Rule 27;

Examples of AVC Account in a sentence

  • The actors must define their role when registering for an account so that it is clear what side of the transaction or retirement they are on.

  • To make this easier, the Trustee has prepared a separate investment guide describing the range of funds available and the ways you can choose how to invest both your Member Account and any AVC Account.

  • Tranche (c) Shares issued on conversion Assuming all performance conditions are satisfied by the relevant measurement date, the maximum number of Shares to be issued to Mr Casello upon vesting of the Performance Rights is 4,741,587.

  • The percentage of the DC or DB AVC Account invested in each of the underlying funds in the Pre-2015 lifestyle strategies gradually changes in the 5 years prior to retirement.

  • As another alternative, the Member may elect that the balances in the Member's Group RRSP Contribution Account, Group RRSP AVC Account and Group RRSP Transfer Account be transferred on a tax-deferred basis to another registered retirement savings plan or any other vehicle approved by Revenue Canada.

  • Finally, Zone 7 in the centre clusters regulatory schemes where actors from all the three groups play a significant role in the governance.

  • Any such amounts will be subject to applicable withholding taxes.8. Catch-up payments to an AVC Account are administered as non-Locked-In amounts.

  • Voluntary contributions will be deducted from the Member's remuneration and credited to the Member's AVC Account.

  • AVCs are held in an unrestricted Additional Voluntary Contribution (AVC) Account in the McGill University Pension Plan.

  • Notwithstanding the rules in paragraphs 1, 4 and 5 above, a Deferred Member or a Retired Member may withdraw 50% of his or her AVC Account Balance, determined as of the Family Law Valuation Date, at any time during a given calendar year for the purposes of equalization of net family property under the Family Law Act (Ontario).


More Definitions of AVC Account

AVC Account means the interest of the Member in the Fund in respect of this Additional Voluntary Contributions, including the Investment Return thereon, plus the Member's Interest;
AVC Account means in relation to a Member, that notional part of the assets of the scheme that represents the aggregate of the net values of those Investment Accounts derived from his AVCs (if any) and the investment returns on such AVCs, as determined by the Trustees.

Related to AVC Account

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Investment Account As defined in Section 3.12(a).

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Regular account means the account established for each active and inactive member un-

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Separate Accounts means the accounts which are to be prepared for each

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 2.2.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • 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.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Primary Account or “Settlement Account” shall mean, in case of multiple Accounts linked to the ATM/Debit Card, the Account that has been designated as being the main/first Account of operation i.e. the Account from which purchase transactions, charges and fees related to the ATM/Debit Card are debited.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Subaccount means any subaccount designated and established hereunder.