MPF Benefits definition

MPF Benefits means benefits, in respect of a Member (other than an External Relevant Employee Member), derived from mandatory contributions credited to the MPF Account and payable in accordance with the terms of the Master Trust Deed.
Sample 1Sample 2Sample 3
MPF Benefits means, in respect of a Member, accrued benefits derived from mandatory contributions, minimum MPF benefits or amount paid by the MPFA in accordance with section 18 of the MPF Ordinance. This includes any:
Sample 1Sample 2

Examples of MPF Benefits in a sentence

  • It is expected that the transfer or payment of MPF Benefits and Voluntary Benefits will normally be completed within 10 Business Days, but in any event not exceeding 30 days, from the cessation of participation of the Participating Employer, an External Relevant Employee or a Self-employed Member upon the occurrence of the an Event.

  • RisksRequests for payment of MPF Benefits, AVC Benefits and TVC Benefits by a Member should be made to the Administrator and accompanied by a completed request of payment form.

  • Please refer to subsection 6.7(c) ‘Payment of MPF Benefits, AVC Benefits and TVC Benefits’ for details• Investment involves risks.

  • Please refer to the ‘Payment of MPF Benefits, AVC Benefits and TVC Benefits’ section under ‘Payment of benefits’ in Part I – Product Information of the ‘Principal Brochure’ for full details.

  • Subject to the following paragraph and any applicable requirements in section 149 of the General Regulation, a Deferred Member may, at any time, elect to have the MPF Benefits and AVC Benefits attributable to the status as a Deferred Member (excluding any part of the AVC Benefits derived from the Flexi-Contributions) transferred to a specified account within a Registered Scheme including the SuperTrust Plus as permitted under the General Regulation.

  • Fund Options, Investment Objectives and PoliciesRequests to transfer MPF Benefits, AVC Benefits (excluding any part of the AVC Benefits derived from a Member’s Flexi-Contributions) and TVC Benefits from the SuperTrust Plus should be made to the Administrator accompanied by a transfer form completed by all relevant parties.

  • Requests to transfer MPF Benefits, AVC Benefits (excluding any part of the AVC Benefits derived from a Member’s Flexi-Contributions) and TVC Benefits from the SuperTrust Plus should be made to the Administrator accompanied by a transfer form completed by all relevant parties.

  • Currently, only Members reaching 65th birthday or early retiring on reaching age 60 may apply (subject to the completion of such document or form (in such form and on such terms) as the Trustee may require from time to time) for payment of the MPF Benefits or TVC Benefits in instalments.

  • Except under the circumstances in note 3, unit redemptions will be performed as soon as practicable after receipt of both the completed Notice of Termination and this Minimum MPF Benefits Transfer Form by the Administrator.

  • The maximum period between the date of receipt of a request for payment of MPF Benefits and TVC Benefits and the date of payment of such benefits will be as specified in the General Regulation.

Related to MPF Benefits

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Employment benefits means all benefits provided or made

  • Coordination of Benefits or “COB” means a provision establishing an order in which plans pay their claims, and permitting secondary plans to reduce their benefits so that the combined benefits of all plans do not exceed total allowable expenses.

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • Change in Control Benefits means the following benefits:

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Schedule of Benefits means the section of this policy which shows, among other things, the Eligibility Requirements, Eligibility Waiting Period, Elimination Period, Amount of Insurance, Minimum Benefit, and Maximum Benefit Period.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Additional Benefits means quantifiable and verifiable enhancement of conservation of biodiversity and/or improvement of local livelihoods realized as a result of implementation of the REDD activities;