Preserved Benefits definition

Preserved Benefits means the benefits which must be payable to or in respect of a former member in order that the scheme shall comply with the preservation requirements.
Preserved Benefits means benefits arising on an individual ceasing to be an active member of a pension scheme, payable at a later date;
Preserved Benefits means benefits to which a person

Examples of Preserved Benefits in a sentence

  • If former employees were in the 1956 Scheme and left service, and did not re-enter the Sector (thereby becoming a member of the 1977 or 1998 Schemes) there is no provision for Preserved Benefits and no entitlements available.

  • These are called Preserved Benefits.You can access your Preserved Benefits in your super when you have met a condition of release.

  • Preserved Benefits - The pension benefits payable from normal retirement age to a member of the Fund who has ceased to contribute as a result of leaving employment or opting out of the Pension scheme before normal retirement age.

  • The site has a comprehensive range of Scheme information, which includes:All About Your Pension Scheme: A new employees’ guide to the SchemeAll About Your Preserved Benefits: A guide to benefits provided if you leave before retirement ageAll About Your Retirement Benefits: A guide to retirement benefits Increasing Your Benefits: How to purchase additional periods of membershipA “FAQ” section: Frequently asked questions.

  • Preserved Benefits – In general preserved benefits must be retained in a superannuation fund until the member has satisfied a condition of release as specified in the Superannuation Industry (Supervision) Act 1993.

  • The granting of such credits is then, however, closely tied to the dismantling of existing economic and socio-political capabilities.

  • The amount of their Member Account, including any Preserved Benefits, shall be paid to the Member if the Trustee is satisfied that the Member is leaving Australia to reside permanently overseas.

  • Qualifying service is required for eligibility for Retirement Benefits (Chapter 11), Preserved Benefits (Chapter 13) and Actuarially Reduced Benefits (Chapter 13A) but is not required for Death in Service benefits.

  • Preserved Benefits may only be transferred to an Approved Superannuation Arrangement if the Governing Rules of the Approved Superannuation Arrangement require the Preserved Benefits to be preserved under the Superannuation Law.6.3Transfers from Approved Superannuation Arrangements 6.3.1 A Member may request the Trustee to accept a transfer of Benefits from another Approved Superannuation Arrangement.

  • Retirements / Preserved Benefits into payment - communicate with member, obtain all necessary forms / documents, revise pension records, generate payment for lump sum and instruct Payroll to commence pension payments – within 10 days of receipt of all documentation.


More Definitions of Preserved Benefits

Preserved Benefits means preserved benefits of which at least part are attributable to a period of membership after that date.
Preserved Benefits means benefits to which a person becomes entitled under regulation 33, or the corresponding provisions of the former regulations and which have not had an election made in respect of them under regulation 34(1) nor have yet become payable;
Preserved Benefits means superannuation or retirement benefits that, under a superannuation scheme, are payable at a future date.

Related to Preserved Benefits

  • 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.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

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

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after the effective date of the NYSE listing standard, (ii) after the person became an Executive Officer and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined: