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);
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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.
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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;
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Examples of AVC Account in a sentence

  • If an AVC Only Member dies a lump sum will be paid equal to the value of his AVC Account.

  • Save as specified elsewhere in these Rules an Active Member’s AVC Account will be used by the Trustees to increase the benefits payable in respect of his Membership.

  • 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.

  • No lump sum retirement payment will be made from such an AVC Account, except in accordance with rule 16.3 or unless permitted by legislation.


More Definitions of AVC Account

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.
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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;
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Related to AVC Account

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

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

  • 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-

  • 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.

  • 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 9.2.

  • 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;

  • 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).

  • 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).

  • Subaccount means any subaccount designated and established hereunder.