Fixed Rate Revaluation definition

Fixed Rate Revaluation means the method of revaluing a GMP before State Pensionable Age described in Rule 6.1 (C) below.
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Fixed Rate Revaluation means the revaluation of Earnings Factors in accordance with section 17(3) of the Pension Schemes Act and regulation 62 of the Contracting-out Regulations (revaluation at 6.25 per cent. compound);
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Fixed Rate Revaluation means the method of revaluing a GMP before State Pensionable Age described in Rule 5.1 (B) below.
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Examples of Fixed Rate Revaluation in a sentence

  • The Trustees may, however, decide, if the provisions of the transferring scheme so allow, to use Fixed Rate Revaluation from the date on which the Member ceased to be in contracted-out employment by reference to the transferring scheme until the Member attains State Pensionable Age (or dies, if earlier) but the Trustees may not make that decision if, on becoming a Member, the Member's contracted-out employment in relation to a previous scheme is treated as continuing for the purposes of the Act.

  • Where commutation is taking place before State Pensionable Age, other than on the death of the Member, Fixed Rate Revaluation must be applied to any GMP included in the aggregate pension, and such GMP must be revalued to State Pensionable Age for the purposes of calculating that aggregate.

  • One respondent argued that this rate was too high, on the grounds that a lower rate of fixed rate revaluation would be in the interests of existing members of money purchase schemes with Guaranteed Minimum Pensions that are subject to Fixed Rate Revaluation, whilst the other respondent had no views as to the proposed rate itself, but expressed a desire to see any change in the rate communicated to pension schemes and their administrators well in advance of 6 April 2022.

  • The instrument does not include a statutory review clause and, in line with the requirements of the Small Business, Enterprise and Employment Act 2015 Guy Opperman at the DWP has made the following statement: “The rate of Fixed Rate Revaluation is reviewed and updated as necessary by DWP every five years to ensure that it continues to reflect trends in inflation and wage growth.

  • Review of Guaranteed Minimum Pension Fixed Rate Revaluation for early leavers‌ BackgroundBetween 6 April 1978 and 5 April 1997, employers sponsoring salary-related occupational pension schemes could 'contract out' their employees from the state additional pension through membership of the employer’s scheme, provided the scheme took on the responsibility for paying a Guaranteed Minimum Pension, from age 60 for a woman or 65 for a man.

  • The Trustees may, however, decide, if the provisions of the transferring scheme so allow, to use Fixed Rate Revaluation from the date on which the Member ceased to be in Contracted-out Employment by reference to the transferring scheme until the Member attains State Pensionable Age (or dies, if earlier).


More Definitions of Fixed Rate Revaluation

Fixed Rate Revaluation means the method of revaluing a GMP before State Pension Age described in Rule 6.1(B) below.
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Fixed Rate Revaluation means the method of revaluing a GMP before State Pension Age described in (C) in Rule 7.1
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Related to Fixed Rate Revaluation

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable fixed interest rate U.S. Treasury Securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Corporation by at least three recognized dealers in U.S. Government Securities selected by the Corporation.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • 5-year Mid-Swap Rate Quotations means the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 day count basis) of a fixed-for-floating euro interest rate swap transaction which:

  • LIBOR Rate Adjustment Date With respect to each Distribution Date, the second LIBOR Business Day immediately preceding the commencement of the related Interest Accrual Period.

  • Floating Rate Period has the meaning set forth in section 2.5(b)(ii) hereof.

  • Floating Rate Convention means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the applicable Final Terms as the Specified Period after the calendar month in which the preceding such date occurred; provided, however, that:

  • National Cost of Funds Index The National Monthly Median Cost of Funds Ratio to SAIF-Insured Institutions published by the Office of Thrift Supervision.

  • Reference Index means each of the indices comprising the Reference Portfolio.

  • Fixed Rate Period has the meaning set forth in Section 2.5(b)(i) hereof.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on March 20, 2020 and ending on and including June 19, 2020, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • LIBOR Market Index Rate means, for any day, LIBOR as of that day that would be applicable for a LIBOR Loan having a one-month Interest Period determined at approximately 10:00 a.m. Central time for such day (rather than 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period as otherwise provided in the definition of “LIBOR”), or if such day is not a Business Day, the immediately preceding Business Day. The LIBOR Market Index Rate shall be determined on a daily basis.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Mid-Market Swap Rate Quotation means a quotation (expressed as a percentage rate per annum) for the relevant Mid-Market Swap Rate;

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Floating Day Count Fraction means, in respect of the calculation of an amount of interest for any Interest Period:

  • Adjusted EURIBO Rate means, with respect to any EURIBOR Borrowing for any Interest Period, an interest rate per annum equal to the sum of (a) the EURIBO Rate for such Interest Period and (b) the Mandatory Costs Rate.

  • Adjusted Eurocurrency Rate means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the Eurocurrency Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate for such Interest Period.

  • Pricing Rate Determination Date means with respect to any Pricing Rate Period with respect to any Transaction, the second (2nd) Business Day preceding the first day of such Pricing Rate Period.

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • Euro-Rate Reserve Percentage means, the maximum effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).