Examples of Money Purchase Benefits in a sentence
No other charges are applicable in relation to investments representing reference assets for a Member’s Money Purchase Benefits, but without prejudice to administration and Trustee fees.
A Member may not assign or charge the reference assets underlying the Member’s Money Purchase Benefits or the Benefits prospectively provided under the DEWS Plan and any act which purports to assign or charge them (or which would conditionally or unconditionally cause Benefits to be payable to another instead of to the Member (or following the Member’s death, in accordance with Rule 6.1) shall be a nullity.
The purpose of a Member’s Account is to reflect the value of the reference assets held for the time being by the Trustee under the DEWS Plan for the purpose of providing Money Purchase Benefits for the Member.
The Scheme may only provide benefits which are Money Purchase Benefits.
In relation to any pension or annuity to be secured from rights to Money Purchase Benefits under the Scheme, there shall be no automatic requirement under the Scheme provisions to secure the pension or annuity so that the rate or amount of the pension or annuity or any part thereof has to increase annually.12.