Defined Benefit Pension Scheme definition

Defined Benefit Pension Scheme or “DBPS” means an occupational pension scheme as defined by Article 3(1) of the Financial Services and Markets Act (Regulated Activities) Order 2001, namely where the amount paid to the beneficiary is based on how many years the beneficiary has been employed and the salary the beneficiary earned during that employment (rather than the value of their investments);

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Defined Benefit Pension Scheme means pension schemes where the pension obligation consists of providing a future pension that is calculated on the basis of future benefits.

Defined Benefit Pension Scheme or “DBPS” means an occupational pension that pays out a defined benefit or guaranteed specified amount to the pension holder based on factors such as the number of years worked and the customer’s salary;

Examples of Defined Benefit Pension Scheme in a sentence

If the cancellation rights arise from the transfer of Rights accrued under Defined Benefit Pension Scheme, although the new arrangement may offer a cancellation period, but the ceding Defined Benefit Scheme is not obligated to accept the rerun of the transferred funds or to reinstate the membership rights which were subject to the transfer request.
Any amounts relating to the funded or underfunded status and unrecognised actuarial losses or gains in relation to the Norwegian Defined Benefit Pension Scheme, as accounted for under NGAAP (NRS6), shall be classified as 'Other' and excluded from both the Final Working Capital (and Working Capital Estimate) and the Final Net Debt (and the Net Debt Estimate).
Except for the Wincor Nixdorf Defined Benefit Pension Scheme, the Company shall ensure that no member of the Group is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions ▇▇▇ ▇▇▇▇ (UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ (UK)) or “connected” with or an “associate” of (as those terms are used in sections 38 or 43 of the Pensions Act 2004 (UK)) such an employer.
If on its winding up the Defined Benefit Pension Scheme has a Surplus the Buyer and the Sellers shall use their reasonable endeavours to procure that the Surplus is paid (net of any applicable tax) to the Company.
At the request of the O2 board, the trustees of the UK Defined Benefit Pension Scheme have met with the company’s Consulting Actuary and obtained the latest available information as to the valuation of the scheme assets as at 30 September 2005.

More Definitions of Defined Benefit Pension Scheme

Defined Benefit Pension Scheme means the defined benefit pension scheme of the Company, governed and administered under the Pension Trust Deed;

Defined Benefit Pension Scheme means the C▇▇▇'▇ Group Pension Scheme;

Defined Benefit Pension Scheme or “Defined Benefit Pension” means an occupational pension scheme as defined by Article 3(1) of the Financial Services

Defined Benefit Pension Scheme means the Salt Union Limited Defined Benefit Pension Scheme;

Defined Benefit Pension Scheme means a pension scheme as defined in section 1(5) of the Pension Schemes Act 1993(1) which is not a money purchase scheme as defined in section 181 of that Act;

Defined Benefit Pension Scheme means a pension scheme (as defined by section 1(5) of the Pension Schemes Act 1993(8)) which is a defined benefits scheme within the meaning given by section 2 of the Pension Schemes Act 2015(9);