Money Purchase Benefits definition

Money Purchase Benefits means retirement benefits payable under a pension scheme the rate or amount of which is calculated by reference to payments made, or treated as made, by the director or by any other person in respect of the director and which are not average salary benefits; and

Money Purchase Benefits means benefits the rate or amount of which are calculated by reference to a payment or payments made by a member or by any other person in respect of that member;

Money Purchase Benefits means money purchase benefits as defined in Section 181 of the Pension Schemes Act 1993;

Examples of Money Purchase Benefits in a sentence

• Unless Regulation 30(1)(b) of SI 1996 No. 1172 is deleted by amending Regulations, all employee contributions must be used to provide Money Purchase Benefits, even if the Scheme otherwise provides salary related benefits, except where Regulation 30(2) of SI 1996 No. 1172 permits otherwise.

• It must be at least as favourable as the way in which any other Money Purchase Benefits of the Member in the Scheme are calculated.

• The payments to which the Protected Rights Provisions apply and their proceeds under the Scheme must be used to provide the Member with Money Purchase Benefits except so far as they are used to meet administrative expenses of the Scheme and to pay commission.

• A consultation document on Statutory Illustrations of Money Purchase Benefits was published by the Government in September 2000.

• The Seller will provide information and otherwise cooperate with such insurance companies and will procure that the trustees of LGPT do so, with a view to ensuring that the amounts to be transferred in respect of the Money Purchase Benefits are transferred without undue delay.

More Definitions of Money Purchase Benefits

Money Purchase Benefits means benefits that, if the Pension Plan were established in the UK, would fall within the definition of “Money Purchase Benefits” given in section 181 of the UK Xxxxxxx Xxxxxxx Xxx 0000.

Money Purchase Benefits given in section 181 of the UK Xxxxxxx Xxxxxxx Xxx 0000.

Money Purchase Benefits means benefits the rate or amount of which are calculated by reference to a payment or payments made by the member, or by any other person in respect of the member, and which are not average salary benefits;

Money Purchase Benefits has the same meaning as in the Xxxxxxx Xxxxxxx Xxx 0000;

Money Purchase Benefits means benefits calculated by reference to payments made by, or in respect of, a member as that expression is more particularly defined in section 181 of the Pension Schemes Act. It does not include benefits calculated by reference to the member’s final or average salary.

Money Purchase Benefits means benefits as defined in section 181 of the Xxxxxxx Xxxxxxx Xxx 0000.

Money Purchase Benefits has the meaning given in paragraph 7 of schedule 4 MPTE means Merseyside Passenger Transport Executive New Process Agent has the meaning given in clause 25.1(c)