Individual Pension Account definition

Individual Pension Account means an account of a subscriber, executed by a contract setting out the terms and conditions under the National Pension System;
Individual Pension Account means an individual account of a Participant maintained by the Pension Fund to record his/her investment and the Units of the Sub- Funds as issued there against, including appreciations thereof;
Individual Pension Account means a distinct account being maintained in the name of each Participant by the Pension Fund Manager to record the Participant’s investment in the Pension Fund and the Units of the Sub-Funds issued thereagainst, including appreciations thereof;

Examples of Individual Pension Account in a sentence

  • The successors or nominated survivor(s) of the deceased Participant shall be the only persons recognized by the Trustee as having any title or interest in the Units held by such Participant in their Individual Pension Account, provided that the Registrar or the Pension Fund Manager or the Trustee may at their discretion request the nominated survivors or successors to provide succession certificates or other such mandate from a court of lawful authority, if they consider the same to be necessary.

  • Subsequently he was contacted by Mr Moses Kirunda and he expressed his interest to purchase the suit property which he bought at Uganda shillings 220,000,000/=.

  • Each Participant has a beneficial interest in the Pension Fund proportionate to the Units held by such Participant in the respective Sub-Fund in his Individual Pension Account.

  • The Participant shall then have the following options, namely:(a) to withdraw up to fifty percent (50%) or such percentage as admissible under the Income Tax Ordinance, 2001, of the amount in participant Individual Pension Account, without any Tax deductions.

  • The liability of the Participant shall be limited to the amount paid against the number of Units or in certain circumstances cash, as may be allowed by the Rules, held by each Participant in his Individual Pension Account.

  • Upon being satisfied that the Contribution to the Fund has been received, in full, from the Participants, the Registrar will send directly to each Participant Account Statement that will constitute evidence of the number of Sub-Fund Units or Individual Pension Account or periodic payment account balances registered in the name of the Participant.

  • Primary job site but may be assigned to work at other sites at the necessity ofthe District.

  • The remaining Contribution amount is then credited to the Participant’s Individual Pension Account and is invested intheunderlyingSub-FundsoftheAlfalah GHP Islamic Pension Fund (AGPF) as per the Allocation Scheme selected by the Participant.

  • Any unauthorized connection or use of a private fire protection system will be considered theft of service and a penalty shall be billed to the customer of record.

  • This form is required to be submitted by the Participant (or the nominees of the deceased Participant) if he/she wishes to withdraw all or part of the Individual Pension Account balance.


More Definitions of Individual Pension Account

Individual Pension Account means a distinct account being maintained in the name
Individual Pension Account means a distinct account being maintained in the name of each Participant with the Pension Fund Manager to record his investments and the Units of Sub-Funds as issued there against including appreciations thereof.
Individual Pension Account means the individual pension account as defined in Clause 4.11.
Individual Pension Account means an account opened as per the scheme;
Individual Pension Account means a distinct account being maintained in the name of each Participant with the Pension Fund Manager to record his investments and the Units of Sub-Funds as issued there against including appreciations thereof. xxxviii.“Investment” means any Authorized Investment forming part of the Deposited Property of any Sub-Fund.xxxix. “Launch Date” means the date, as may be determined by the Pension Fund Manager, from which the Atlas Pension Islamic Fund shall be offered to theParticipants for continual Contribution dealing. xl. “Life Cycle Allocation Scheme” means an Allocation Scheme approved by the Commission, where the percentage allocations to each Sub-Fund will automatically vary based on the age of the Participant. xli. “Life Insurance Company” means a company registered under the Insurance Ordinance, 2000 (XXXIX of 2000), to transact life insurance business, and includes the State Life Insurance Corporation of Pakistan. xlii. “NBFC Rules” means the Non-Banking Finance Companies (Establishment and Regulation) Rules 2003, as amended from time to time. xliii. “Net Assets” shall mean the excess of assets over liabilities of each Sub- Fund of the Pension Fund, such excess being computed in the manner as defined in the Rules or as may be specified by the Commission from time to time. xliv. “Net Asset Value” or “NAV” means per Unit value of each Sub-Fund arrived at by dividing the respective Net Assets by the number of Units outstanding of the respective Sub-Funds on the basis indicated in the Rules or as may be specified by the Commission from time to time, which shall constitute the price at which the Units of each Sub-Fund shall be issued and the price at which the Units of each Sub-Fund shall be redeemed. xlv. “Offering Document” means the prospectus or other document issued by the Pension Fund Manager with consent of the Trustee and after approval of the Commission, which contains the investment policy of the respective Sub-Funds, Prescribed Allocation Policy and all other information in respect of the Pension Funds, as required by the Rules and Regulations and is circulated to invite offers by the public to contribute in the Fund. xlvi. “Par Value” means the face value of Unit of each Sub-Fund that shall be Rupees one hundred (Rupees 100). xlvii. “Participant” means any person who makes Contributions or on whose behalf Contributions are made into the Pension Fund, and held in an identifiable Individual Pension Account managed by the Pension Fund Manager. xl...

Related to Individual Pension Account

  • 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.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • 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.

  • 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.

  • 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.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

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

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

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

  • 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.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

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

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

  • 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.

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

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • 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.