FURBS definition
Examples of FURBS in a sentence
The contribution is on an age related scale: The Executive will also be eligible for participation in a Funded Unapproved Retirement Scheme "FURBS", to which this salary supplement would be applied.
Barclays contributions will be paid to the FURBS after deduction of any tax liability which the Executive may have in respect of Barclays contributions.
THE ORIGINAL FURBS WORDING FOR EACH EMPLOYEE WHO HAS A FURBS (AND IN PARTICULAR MESSRS ▇▇▇▇▇▇▇ AND ▇▇▇▇▇▇) IS TO BE REINSTATED.
The Company reserves the right to vary the rate of the FURBS contribution from time to time.
It now has a wider definition and includes pension arrangements, share options, Share Save schemes, employees’ share ownership schemes (ESOP’s), Funded Unapproved Retirement Benefit Schemes (FURBS) and anything that is intended as ‘pay’ for any employee.
The Executive’s membership of and participation in the FURBS shall be subject to the Trust Deed and Rules of the scheme in force from time to time.
At the current rates of tax and National Insurance, this would provide a contribution to the FURBS amount of approximately 16%.
The Executive is entitled to participate in The Associated Octel Funded Unapproved Retirement Benefits Scheme (FURBS) and The Associated Octel Top Hat Scheme (which together are hereinafter referred to as the Company Pension Plans) by which such additional pension provision referred to within this sub-Clause shall be provided.
The contributions will be paid into an individual FURBS trust in the Executive’s name and the Executive will be able to choose from a range of investment options within his own FURBS trust.
No plan, proposal or intention to amend, discontinue (in whole or in part) or exercise a discretion in relation to the NBPS, the NIBPS, the NDCS, the Price FURBS, the ▇▇▇▇▇ FURBS, the NEDRBS or the WFOBBC has been communicated to members of such schemes.