Pension Fund Act definition

Pension Fund Act means the Pension Fund Act No. 24 of 1956, aa amended;
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Examples of Pension Fund Act in a sentence

  • In the event of a member’s death, the Trustees will apply Section 37(c) of the Pension Fund Act.

  • The retirement funds operated by the Group in the Republic of South Africa are registered as provident or pension funds and are accordingly governed by the Pension Fund Act No. 24 of 1956 (as amended).

  • The retirement benefitbenefit plan is subject to the rules and regulations prescribed by the Local Government Superannuation Ordinance, 1973 (Ordinance No. 24 of 1973) and in accordance with the requirements of the Pension Fund Act, 1956.

  • The contributions that an employer pays for his/her employees into a pension fund, as defined in the Austrian Pension Fund Act (Pensionskassengesetz), are tax-exempt.

  • The investment limits specified in § 25 of the Austrian Pension Fund Act as amended in the Austrian Federal Law Gazette I No. 68/2015 (PKG)2 are complied with, in accordance with the fund regulations.

  • The Transnet Pension Fund Act requires amendments to support these provisions.

  • The LBRF ceded all its rights under these loans to the Land Bank as participating employer.The LBRF previously issued to members of the Fund in terms of Section 19(5) of the Pension Fund Act (PFA) and the Rules of the Fund allowed for loan repayment terms of 30 years or until retirement, which ever comes first.

  • The Trustees are required in terms of the Pension Fund Act (1956) to exercise their fiduciary duties in the best interests of the Fund and its members and to manage the Fund according to the Fund rules and applicable legislation.The Trustees have appointed D & D The Cycle (Pty) Ltd as the Administrators of the Fund (“The Administrators”).

  • Both funds are defined contribution plans and do not require to be actuarially valued.These plans are governed by the Pension Fund Act of 1956.Current contributions to the pension and provident funds are expensed when they become payable.The Group has no liabilities in respect of post-retirement medical aid contributions or benefits.

  • Exclusions for age and physical fitness were removed from the Fire Pension Fund Act, therefore, fire chiefs hired after June 30, 1995, are ineligible to participate in IMRF.

Related to Pension Fund Act

  • Pension Fund means any person that: (i) is organized under the laws of a Contracting State; (ii) is established and maintained in that Contracting State primarily to administer or provide pensions or other similar remuneration, including social security payments; and (iii) is exempt from tax in that Contracting State with respect to the activities described in clause (ii).

  • pension fund holder means with respect to a personal pension scheme or an occupational pension scheme, the trustees, managers or scheme administrators, as the case may be, of the scheme concerned;

  • Pension Funding Rules means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

  • Insurance Fund means the pest control insurance fund established pursuant to this compact.

  • Buydown Fund Account A separate account or accounts created and maintained pursuant to Section 3.02 (a) with the corporate trust department of the Trustee or another financial institution approved by the Master Servicer, (b) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a Servicer or (c) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. Such account or accounts may be non-interest bearing or may bear interest. In the event that a Buydown Fund Account is established pursuant to clause (b) of the preceding sentence, amounts held in such Buydown Fund Account shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Buydown Fund Account may be established.

  • Pooled fund group means an internally created fund of a district in which one or more institutional accounts of a district are in- vested.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Administration Fund means the Administration Fund established by the Fiscal Agent pursuant to Section 4.01 hereof.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • Pension Plan means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Superannuation Fund means the Local Government Superannuation Scheme.

  • Pension reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any retirement allowance or benefit in lieu of any retirement allowance, granted to a member or beneficiary under this chapter.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Reserve Fund Deposit With respect to the Reserve Fund, an amount equal to $5,000, which the Depositor shall initially deposit into the Reserve Fund pursuant to Section 3.21 hereof.

  • General Account consists of all our assets other than those held in any separate investment accounts.

  • Retirement fund means the "Washington law enforcement

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Buydown Fund A fund provided by the originator of a Mortgage Loan or another Person with respect to a Buydown Loan which provides an amount sufficient to subsidize regularly scheduled principal and interest payments due on such Buydown Loan for a period. Buydown Funds may be (i) funded at the par values of future payment subsidies, or (ii) funded in an amount less than the par values of future payment subsidies, and determined by discounting such par values in accordance with interest accruing on such amounts, in which event they will be deposited in an account bearing interest. Buydown Funds may be held in a separate Buydown Fund Account or may be held in a Custodial Account for P&I or a Custodial Account for Reserves and monitored by a Servicer.

  • Pension program means the defined benefit pension program of the Oregon Public Service

  • Canadian Benefit Plan means any plan, fund, program, or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing material employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Borrower has any liability with respect to any employee or former employee, but excluding any Canadian Pension Plans.

  • Provident Fund means any fund (other than a pension fund, benefit fund or retirement annuity fund) which is approved by the Minister in respect of the year of assessment in question: Provided that the Minister may approve a fund subject to such limitations or conditions as he or she may determine, and shall not approve a fund in respect of any year of assessment unless he or she is in respect of that year of assessment satisfied -

  • Excess Funding Account shall have the meaning specified in Section 4.02.