Money Purchase Benefits definition

Money Purchase Benefits means retirement benefits payable under a pension scheme the rate or amount of which is calculated by reference to payments made, or treated as made, by the director or by any other person in respect of the director and which are not average salary benefits; and

Money Purchase Benefits means money purchase benefits as defined in Section 181 of the Pension Schemes Act 1993;

Money Purchase Benefits means benefits the rate or amount of which are calculated by reference to a payment or payments made by a member or by any other person in respect of that member;

Examples of Money Purchase Benefits in a sentence

• A Member may not assign or charge the reference assets underlying the Member’s Money Purchase Benefits or the Benefits prospectively provided under the DEWS Plan and any act which purports to assign or charge them (or which would conditionally or unconditionally cause Benefits to be payable to another instead of to the Member (or following the Member’s death, in accordance with Rule 6.1) shall be a nullity.

• No other charges are applicable in relation to investments representing reference assets for a Member’s Money Purchase Benefits, but without prejudice to administration and Trustee fees.

• The Scheme may only provide benefits which are Money Purchase Benefits.

• The purpose of a Member’s Account is to reflect the value of the reference assets held for the time being by the Trustee under the DEWS Plan for the purpose of providing Money Purchase Benefits for the Member.

• It must be at least as favourable as the way in which any other Money Purchase Benefits of the Member in the Scheme are calculated.

More Definitions of Money Purchase Benefits

Money Purchase Benefits means benefits that, if the Pension Plan were established in the UK, would fall within the definition of “Money Purchase Benefits” given in section 181 of the UK Xxxxxxx Xxxxxxx Xxx 0000.

Money Purchase Benefits given in section 181 of the UK Xxxxxxx Xxxxxxx Xxx 0000.

Money Purchase Benefits has the same meaning as in the Xxxxxxx Xxxxxxx Xxx 0000;

Money Purchase Benefits means benefits the rate or amount of which are calculated by reference to a payment or payments made by the member, or by any other person in respect of the member, and which are not average salary benefits;

Money Purchase Benefits in relation to a member of a personal or occupational pension scheme or the widow or widower of a member of such a scheme, means benefits the rate or amount of which is calculated by reference to a payment or payments made by the member or by any other person in respect of the member and which are not average salary benefits.

Money Purchase Benefits means money purchase benefits as defined in section 181 of the Xxxxxxx Xxxxxxx Xxx 0000

Money Purchase Benefits has the meaning given in paragraph 7 of schedule 4 MPTE means Merseyside Passenger Transport Executive New Process Agent has the meaning given in clause 25.1(c)