Examples of Scheme Member in a sentence
On the death of the Primary Scheme Member/ Annuitant, 50% of the annuity amount will be payable to the Secondary Scheme Member/ Annuitant as long as the Secondary Scheme Member/ Annuitant is alive.
The table below sets out the annuity benefits as per the annuity option chosen by you: Annuity OptionAnnuity Benefits<<Life Annuity Annuity payments will be made in arrears for as long as the Scheme Member/ Annuitant is alive.
The annuity payments will cease on death of the Scheme Member/ Annuitant.>><<Life Annuity with Return of Purchase Price<<Life Annuity with Return of Balance Premium/Purchase Price<<Life Annuity with Return of Premium/Purchase Price in Parts<<Life Annuity with a Guarantee PeriodAnnuity payments will be made in arrears for as long as the Scheme Member/ Annuitant is alive or until the end of the Guarantee Period, whichever is later.
The annuity payments will cease on the later of:- death of the Scheme Member/ Annuitant; or- completion of the Guarantee Period.The Guarantee Period shall be as selected by you and is set out in the COI.>><<Life Annuity with 5% escalationAnnuity payments will be made in arrears for as long as the Scheme Member/ Annuitant is alive.
A quorum will comprise 3 of the 5 members of which at least one shall be an Employer representative and one a Scheme Member representative.