the Final Salary Scheme definition
Examples of the Final Salary Scheme in a sentence
Within thirty (30) days of the Member Transfer Date, Deutsche Bank shall, or shall cause the applicable DB Entities or the applicable Sellers to, instruct Deutsche Bank or the DB Entities or the actuary selected by Sellers (hereinafter referred to as the “Vendor’s Jersey Actuary”) to determine the transfer value for those Transferring Jersey Employees who are members of the Final Salary Scheme.
This is an additional liability of the Final Salary Scheme at completion and the Buyer does not have any liability to pay any amount in respect of this additional pensionable service.
The Executive's accrued pension will be revalued, as required in law; from the date he ceased to accrue benefits under the Final Salary Scheme up to the date of his Compulsory Redundancy.
It is agreed that if the Gold Watch Employees remain with the Buyer so that their service with the Buyer when added together with their pensionable service in the Final Salary Scheme at Completion would equal the amount of qualifying service which would have entitled them to an additional 5 years pensionable service credited in the Final Salary Scheme had they stayed employed with the Seller, then that additional five years pensionable service will be credited by the Seller in the Final Salary Scheme.
All contributions due from the Group to the Final Salary Scheme have been duly made at the rate(s) and time(s) recommended by the actuary to the Pension Schemes and in accordance with the payment schedule and/or schedule of contributions (as the case may be); and all contributions due to the GPP have been made in accordance with the Personal Pension Schemes (Payments by Employers) Regulations 2000 (SI 2000/2692).