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Pension Protection Fund (PPF) |
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The PPF provides compensation to members of eligible defined benefit pension schemes when they lose their benefits after the employer becomes insolvent. |
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Pensionable Salary |
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Your basic salary plus other contractual payments, excluding profit sharing, bonuses, overtime or other variable payments. |
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Pensionable Service |
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The time that you have contributed to (or have been a non-contributory member of) the Scheme. |
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Pensions Ombudsman |
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The Pensions Ombudsman investigates and decides complaints and disputes about the way that pension schemes are run. |
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Pensions Simplification |
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see A-day. |
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Primary Protection |
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When a member registers their pre A-day rights of more than £1.5 million to obtain a higher lifetime allowance. You must have registered for primary protection with HMRC by 5 April 2009. |
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Protected Rights |
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The benefit from a money purchase scheme that has built up from rebates being paid as a result of the scheme being contracted-out. |
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