A comprehensive guide to Accrued Benefits, focusing on defined-benefit pension schemes, calculation methods, accounting standards, and key considerations.
Additional Voluntary Contribution (AVC) refers to extra payments that employees can make to their pension scheme to boost the benefits they receive upon retirement. These contributions can be directed towards either the pension payable or a tax-free lump sum.
Autonomous Pension Funds are established by employers, or jointly by employers and employees, to provide pensions for specific groups of employees, ensuring financial security in retirement.
An in-depth look at the Benefit Rate, the percentage of earnings used to calculate retirement benefits, including examples, types, historical context, and related terms.
A comprehensive guide to understanding cash balance plans, a type of defined benefit plan that operates with a stated account balance.
An in-depth exploration of contributory pensions, where both employees and employers contribute to the pension fund, including historical context, key events, types, formulas, importance, and more.
A detailed exploration of the contributory pension scheme where both employees and employers contribute to retirement funds, including historical context, key events, mathematical models, and practical applications.
An in-depth exploration of Defined-Benefit Pension Schemes, their historical context, types, key events, detailed explanations, mathematical formulas, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, and more.
A comprehensive guide to understanding defined-contribution pension schemes, including their history, types, importance, and related concepts.
A detailed examination of Defined Benefit Schemes, covering historical context, types, key events, mathematical models, importance, examples, considerations, and related terms.
A comprehensive guide to understanding Defined Contribution Plans, where contributions are defined, but the final retirement benefits are subject to investment performance.
A comprehensive look into Defined Contribution Schemes, including historical context, types, key events, explanations, mathematical models, and real-world applicability.
A comprehensive overview of Defined-Benefit (DB) Pension Schemes, including historical context, key features, types, examples, and related concepts.
An in-depth look into Defined-Benefit Pension Schemes, their structure, importance, and evolving landscape in the retirement planning industry.
A Defined-Contribution (DC) Plan is a retirement plan in which the employer, employee, or both make contributions on a regular basis, but the future benefits fluctuate based on investment performance.
A detailed exploration of Defined-Contribution Pension Schemes, including their types, benefits, comparisons, and key considerations.
Early Retirement Age refers to the age at which an individual can retire and start receiving benefits before reaching the Normal Retirement Age (NRA), usually with reduced benefits.
A detailed guide to the Federal Employees Retirement System (FERS), an integral retirement plan for U.S. federal employees, covering structure, benefits, historical context, and more.
A detailed exploration of fully funded pensions, their significance, mechanics, and comparison with other pension schemes.
A comprehensive overview of the Funded Pension System, where contributions are saved and invested to generate returns for future pension payments.
An in-depth exploration of Funded Status, including its historical context, types, key events, explanations, formulas, and applications in the realms of finance and pension planning.
Comprehensive exploration of investment income, its types, sources, calculation methods, significance, and strategies for maximization.
Maximum Pensionable Earnings (MPE) is a critical concept in pension planning, referring to the earnings beyond the Year’s Maximum Pensionable Earnings (YMPE), which are excluded from calculations of pension contributions and benefits.
An in-depth overview of the New State Pension in the UK, including its historical context, structure, key events, calculations, and significance.
An in-depth look at non-contributory pension schemes, where the employer shoulders the entirety of contributions, and the implications for employees and businesses.
A Non-Contributory Pension Scheme is a pension scheme wherein the employer bears the entire cost of the employees' pensions without requiring contributions from the employees.
The Normal Retirement Age (NRA) is the age at which a person can retire with full social security or pension benefits, without any reduction. Learn about its historical context, importance, key events, and applicability.
An in-depth look into Occupational Pension Schemes, their types, key events, mathematical models, importance, and applicability.
Explore the intricacies of the Pay-As-You-Go pension system, its historical context, importance, examples, and more. Learn how it differs from fully funded pension schemes and discover the challenges involved in transitioning between the two.
A comprehensive overview of pensions, their types, importance, and historical context, providing a financial safety net for retirees.
A comprehensive guide to understanding pensions, including types, history, key events, mathematical models, and more.
An in-depth exploration of pension contributions, including their historical context, importance, types, key events, mathematical models, and more.
An in-depth exploration of the Pension Funding Gap, including its historical context, implications, key events, types, mathematical models, and more.
Pension Funds are investment pools tailored to facilitate Baby Boomers and other individuals in saving for retirement, providing a structured and secure method of accruing financial resources for the post-employment phase of life.
A detailed look into pension insurance contracts, including their historical context, types, key events, detailed explanations, importance, applicability, and more.
An in-depth exploration of pension liabilities, including historical context, types, key events, mathematical models, charts, applicability, examples, and related terms.
Pension Liability refers to the present value of future pension payments owed to employees. It represents the amount a company or government has to set aside now to ensure it can meet its pension obligations in the future.
An in-depth look into Pension Obligation, which represents the total amount a company is obligated to pay its employees in the form of pension benefits, including historical context, types, key events, explanations, formulas, importance, and applicability.
Regular periodic payments to retired employees. Financial programs that provide income during retirement based on years of service and salary history.
An in-depth analysis of pension schemes, their types, historical context, importance, applicability, examples, and related terms.
An in-depth exploration of pension schemes, including contributory and non-contributory pension schemes, under-funded and unfunded pension schemes, historical context, types, key events, and examples.
A comprehensive guide to the age at which individuals become eligible to receive pension benefits, examining variations across countries, historical context, and implications for financial planning.
A Personal Pension Scheme allows individuals to contribute part of their salary towards a pension provider, such as an insurance company or bank, which invests the funds for retirement.
Understanding the Present Value of Future Benefits (PVFB) and its importance in pension valuation, financial planning, and investment decisions.
An extensive guide to various retirement plans designed to secure financial stability in post-retirement life. This article covers types, key events, formulas, and more.
A comprehensive guide to understanding a Rollover IRA, including its definition, types, applicability, and comparison to other retirement accounts.
A detailed look into Registered Pension Plans (RPP), their types, historical context, importance, applicability, and more.
A comprehensive exploration of the State Second Pension (S2P), covering historical context, categories, key events, detailed explanations, and its importance in social security.
A retirement plan aimed at small businesses and the self-employed, offering simpler administration than Keogh Plans.
A detailed exploration of Stakeholder Pension, its types, benefits, regulations, and relevance in modern finance.
The State Second Pension (SSP) was an additional earnings-related component of the State Pension in the UK, designed to provide higher benefits for lower and moderate earners. This article explores its historical context, types, key events, and more.
A comprehensive overview of the State Second Pension (SSP, S2P), its historical context, features, and significance in the UK pension system.
An under-funded pension scheme is one where the accumulated funds are insufficient to meet the actuarially expected costs of pensions payable. It depends on demographic forecasts and financial yield forecasts.
The process by which an employee earns the right to receive pension benefits.
A detailed guide on Workplace Pensions, including historical context, types, importance, and examples.
Year’s Maximum Pensionable Earnings (YMPE) is a critical financial metric that sets the annual limit on earnings subject to pension contributions in Canada. It affects the contributions to the Canada Pension Plan (CPP) and other pension schemes.
The Employee Retirement Income Security Act (ERISA) of 1974 established guidelines for managing private pension funds, eased pension eligibility rules, and created the Pension Benefit Guaranty Corporation (PBGC) to protect beneficiaries.
A detailed guide on employer retirement plans, types, rules, and important considerations for Individual Retirement Account (IRA) deductions.
Forfeitable benefits refer to the situation in which a participant in a pension or profit-sharing plan has no ownership rights until certain service or performance requirements are met.
An in-depth exploration of Full Retirement Age, its significance in retirement planning, and its impact on Social Security benefits.
A funded pension plan ensures that funds are currently allocated to purchase retirement benefits, providing financial security for employees even if the employer ceases operations.
Overview of the General Retirement System, focusing on pension, annuity, and retirement funds established by states or political subdivisions for their employees.
A comprehensive overview of hybrid pension plans, their structure, types, examples, historical context, and applicability in modern financial planning.
The IRA rollover provision allows individuals receiving lump-sum payments from their employer's pension or profit-sharing plan to transfer these funds into an IRA investment plan within 60 days, tax-free. However, if funds aren't transferred directly to an eligible plan, 20% of the distribution is withheld by the payor.
A financial condition occurring when the accumulated benefit obligation exceeds the fair value of plan assets in pension plans.
Nonforfeitable benefits in the context of pension and profit-sharing plans refer to benefits that are guaranteed to the employee regardless of length of service or performance requirements. This ensures financial security and loyalty from employees.
A comprehensive guide to Pension Freeze, detailing its types, implications, and related terms.
Congressional pension reform legislation designed to encourage individual retirement savings and enforce stricter regulation on employer-funded plans, also affecting charitable contributions, long-term care, college savings plans, and assistance for employees with 403(b) and 401(k) plans.
Portability in employee benefits allows individuals to retain their benefits, such as pension and insurance coverage, when switching to a new employer.
An in-depth look at the concept of retirement, detailing its significance, historical context, types, and implications across various domains, including economics, finance, and social sciences.
A comprehensive guide to understanding Retirement Income, including sources such as Social Security benefits and pensions.
A retirement plan is a financial arrangement designed to replace employment income upon retirement, offering tax advantages such as deductions for employers and deferred recognition of income for employees or self-employed individuals.
An in-depth analysis of the term 'UNFUNDED' as it applies to pension or profit-sharing plans, including its implications, examples, and related terms.
Vesting refers to the process by which an employee becomes entitled to retirement benefits or pension after a certain period of employment, even if the employee resigns afterward.
An in-depth exploration of cash balance pension plans, their features, advantages, disadvantages, and frequently asked questions to provide a comprehensive understanding of this retirement savings option.
Understanding qualified trusts, their mechanisms, tax advantages, types, and benefits in stock bonus, pension, and profit-sharing plans.
A comprehensive guide to the replacement rate, detailing its significance, calculation, and impact on retirement income.
An in-depth explanation of unfunded pension plans, their operation, advantages, disadvantages, and key considerations.
An in-depth look at Vested Benefit Obligation (VBO), explaining its significance, calculation, and impact on a firm's financial health.
