Pensions/Membership Flashcards
What is pension Scheme?
In simple terms, a pension scheme is just a type of savings plan to help you save money for later life.
What is State Pension?
( государственная пенсия ) The State Pension provides up to £175.20 a week
What is Trustee?
(доверительный собственник ) A trustee is a person or company, acting separately from the employer, who holds assets in the trust for the beneficiaries of the scheme.
Who is beneficiaries?
бенефициаром является лицо, в пользу и в интересах которого доверительный собственник (trustee) выполняет свои обязанности по управлению переданным в траст имуществом
A ‘beneficiary’ is anyone who might receive, a benefit from the scheme, now or in the future.
What is individual trustee?
If you are an individual trustee, you will usually be one of several trustees responsible for running the scheme; this group is often referred to as a board of trustees.
Who is corparate trustee?
Where the trustee is a company (known as a corporate trustee), you will be a director of that company. However, you will have the same responsibilities as an individual trustee in relation to the scheme. The employer itself may be the corporate trustee.
What is trust deed and rules?
The Trust Deed & Rules are the legal documents by which the Scheme is managed.
The Trust Deed sets rules for operating the Scheme as a trust whereas the Scheme Rules gives full details of all the Scheme’s benefits.
Who are active members?
employees who are building up benefits in the scheme;
Who are pensioner members?
People who are receiving a pension from the scheme;
Who are deferred members?
People who have left the scheme, but who still have benefits in it (for example, because they have not transferred all their benefits to another pension arrangement);
