REPORT TO THE TRUSTEES OF THE INDUSTRIAL BANK OF JAPAN PENSION SCHEME
|
|
- Bryce Wiggins
- 5 years ago
- Views:
Transcription
1 REPORT TO THE TRUSTEES OF THE INDUSTRIAL BANK OF JAPAN PENSION SCHEME A Introduction The Principal Employer of the IBJ Scheme, Mizuho Corporate Bank Limited, is also the principal employer of the Fuji Bank Scheme. Mizuho Bank Limited wishes to merge the IBJ Scheme with the Fuji Bank Scheme in order to have the IBJ Scheme (to be renamed as the MHCB London Final Salary Scheme) as the ongoing pensions vehicle for Mizuho Corporate Bank Limited. This transfer has been discussed in correspondence for a long time. To be clear, we set out below the basis on which we believe the Trustees of the IBJ Scheme are requested to accept the transfer as reflected in the documents the IBJ Trustees are asked to execute We comment on the documents giving effect to the transfer and we comment on the trustees' duties in relation to this transfer. The IBJ Scheme is governed by a trust deed dated 28 March 1991 as amended. The documentation contains a power under rule 12 to accept a transfer to the Scheme of all or any of the assets of any retirement pension fund or arrangement approved by the Inland Revenue. (d) The Fuji Bank Scheme is currently governed by a definitive deed dated 24 June 1968 as amended from time to time and the third edition of the Rules. We have not had the opportunity of reviewing the current governing documentation for this scheme. As a result of the merger, the governing documentation of both the IBJ Scheme and the Fuji Bank Scheme will be amended and the trustees of the IBJ Scheme will be required to enter into a new third definitive trust deed and rules which will include certain protections for Fuji Bank Scheme members if the transfer takes place. B Merger proposals (d) (f) Mizuho Corporate Bank Limited wishes to harmonise benefits for all group members and staff and wishes to merge all its pension schemes to provide one ongoing pension scheme for employees. It is proposed that the trustees of the Fuji Bank Limited Pension Fund and Life Assurance Scheme (the "Fuji Bank Scheme") transfer the assets and liabilities of the Fuji Bank Scheme to the trustees of the Industrial Bank of Japan Retirement Benefits Scheme (the "IBJ Scheme"). The transfer will be without consent and one clear month's notice of the transfer will be given to the Fuji Bank Scheme members. A GN16 Certificate will also need to be signed by the Fuji Bank Scheme actuary, and we assume for the purposes of this paper that the Fuji Bank Scheme Actuary can give this certificate. Updated formal actuarial advice from the IBJ Scheme Actuary is awaited and should be considered along with this legal advice, as the IBJ Scheme trustees should be happy that the proposal does not significantly reduce the security for existing IBJ Scheme members. We believe this advice will indicate that whilst the Scheme is currently 92% funded on an ongoing pre-merger it will be 91% funded on an ongoing basis post merger. The overall reduction in the funding position is therefore very small and we believe the actuary will not be troubled by this. This slight dilution in funding is not in our view something which should prevent the trustees from agreeing the merger. It is proposed that on the merger being agreed, additional funding of 2.7m, nominally split as to 0.83million to the IBJ Section members and 1.87million to the Fuji Scheme members, intended to represent forward funding of contributions to October 2005.
2 (g) (h) After the merger, a further scheme actuarial valuation is due in April 2005, and it is agreed under the merger deed that the IBJ Scheme Trustees shall request the Scheme actuary to provide the valuation, assuming any deficit on an ongoing basis existing within the IBJ Scheme as at the merger date be discharged over the period to 30 September However, this will not limit the trustees' rights to set contributions to meet the minimum funding requirement or any other funding requirement introduced by subsequent legislation. Once the valuation has been obtained, the contribution rate will be set in accordance with the new trust deed and rules. The contribution rule in the new trust deed and rules has been amended and in relation to any valuations prior to October 2017 where the Principal Employer and the Trustees cannot reach agreement in relation to the contribution rate required, then an independent actuary will be appointed to act as an expert and set a reasonable rate, and in giving this advice he also needs to put himself in a position (perhaps as scheme actuarial adviser) that the trustees can rely on his advice. The amended wording of the clause should provide the trustees with some comfort as any actuary appointed will have to err on the side of caution in determining an applicable contribution rate. There are ringfencing proposals contained in the merger deed. They give some additional comfort to the IBJ Trustees on the funding levels. The ringfencing proposals work by running a check every three years, or more frequently at the request of the Principal Employer, on the comparative funding levels of the Fuji Bank Section (assuming the Fuji Bank Scheme assets, adjusted and added to by the appropriate amount of contributions are applied to that section) and the IBJ Section (the remaining assets) both calculated on a buy out basis. Once the two sections are equal, a certificate to this effect is provided by the IBJ Scheme actuary, and the ringfencing falls away. Prior to that, if the Principal Employer triggers a winding up of the Scheme, the balancing amount needed to make the two sections equal (and thus not disadvantage the IBJ Section members) will be a debt owed by the Principal Employer. No changes are to be made to past or future benefits for any members except: (A) (B) IBJ Scheme members who seek to retire early after the age of 60 do not require Principal Employer consent, previously unclear whether this is a Scheme benefit, has been included in the deed and rules; and Pensions in payment for IBJ Scheme members are increased at the lesser of 5% or RPI, not limited to post 1997 benefits. These are both benefit improvements and thus positive factors in favour of the merger. C Definitive Trust Deed (d) As part of the merger, the IBJ Scheme Trustees are asked to sign a new definitive trust deed and rules, incorporating the Fuji Scheme section and the benefit improvements outlined above. The scheme name will be changed to the MHCB London Final Salary Scheme. In summary, the new deed will replace the current trust deed and rules of the IBJ Scheme and will incorporate a new trust deed and divide the rules into five separate schedules. Schedule 1 deals with definitions and interpretations, incorporating the definitions appropriate to both the former IBJ Scheme and the Fuji Bank Scheme. Schedule 2 is the rules for the former Industrial Bank of Japan section. Schedule 3 is the rules for the former Fuji Bank section. Schedule 4 sets out the Inland Revenue limits. Schedule 5 deals with contracted out employment. Some amendments have been made to the Scheme deed and rules. These are:
3 (ii) (iii) (iv) (v) (vi) (vii) How to set contributions. The existing employer contribution rule under the second definitive trust deed and rules dated 28 March 1991 states that "each individual employer should pay such contributions under the scheme as the principal employer and the trustees, acting on the advice of the actuary, using such appropriate method of valuation as he so decides, shall determine as being required to secure the benefits hereinafter described in respect of the members". There is therefore an existing requirement for the principal employer and the trustees to determine the level of contributions. The changed wording proposed in the draft deed and rules is "each Employer shall make such contributions (if any) to the Scheme as the Principal Employer and the Trustees, guided by the Actuary agree are required to provide the benefits payable under the Rules in respect of the Members which it employs " In practice (on a historic basis) the trustees and principal employer jointly have negotiated/set a contribution level and we would expect that to continue. The revised wording does represent a weakening of the current contribution rule, but not one which is significant, as it would not,, in our view, allow a Principal Employer to unreasonably reject the Actuary's guidance in setting the contribution rate. Transfers in of assets. The transfer-in rule is amended to allow the Principal Employer to direct that the trustees accept a transfer-in, and that the amount of benefits awarded on a transferring-in of assets will be decided by the Principal Employer (after hearing actuarial advice and discussing with the Trustees). However, the Trustees retain an ability to reject any transfers-in if they reasonably believe that it will "prejudice the benefits of" the remaining members. We believe that this would include prejudicing the security of the benefits of existing members. In practice, the existence of this provision will require the trustees to be involved in any transfers-in in the future, and the terms of those transfers-in. Amount payable on a transfer out. The current transfer out power is one which is wholly in the hands of the trustees. The amendments proposed allow the Principal Employer some say in the amounts of any bulk transfer out of the Scheme. However, the Principal Employer cannot force a bulk transfer from the Scheme, the Trustees still retain the ability to decide whether such a transfer happens at all. In practice therefore, although this is a weakening of the power of the trustees, we do not consider it to be a material worsening of the members' security. How to appoint advisers. The power governing appointment of advisers in the latest draft of the third definitive trust deed and rules, though worded differently, is little different from that contained within the current second definitive trust deed and rules. The trustees retain the power to appoint their own advisers though employer agreement is required as to the remuneration level. Scheme Indemnities. The indemnity clause has been amended so that the trustees are indemnified out of the fund to the extent that the trustee are not indemnified out of the fund they will be indemnified by the Principal Employer. The Principal Employer also now has to give consent if individual trustees want to obtain insurance. Contribution schedules and scheme termination. The clause dealing with contribution schedules has been amended to state that the schedule of contributions must show separately contributions payable to the Industrial Bank of Japan and Fuji Bank sections of the Scheme whilst the ringfencing remains in effect. On termination the trustees are under a duty to reserve fund assets held within any individual money purchase accounts to meet the liability of money purchase benefits under the relevant rules. Amendment. The power of amendment continues to be exercisable only with the consent of the trustees and there are specific clauses in there to prevent any amendments which reduce any benefits applicable to
4 pensionable service under the rules of the Fuji Bank section without the consent in writing of the affected members. (viii) Benefit improvements. The rules of the Industrial Bank of Japan section of the Scheme have been amended to reflect the benefit improvements described in section B paragraph (I). It will be necessary for a Section 67 certificate to be signed for this deed and rules to take effect. David Jarman, as Scheme Actuary, will now need to sign the certificate and this issue is being discussed with him. D Merger Deed (d) (f) (g) (h) The merger deed sets out the terms of the proposed merger. The merger deed provides that from a date to be agreed, the Fuji Bank Scheme Trustees shall transfer to the IBJ Scheme trustees all the assets and liabilities of the transferring scheme subject to the terms and conditions of the merger deed. The IBJ Scheme trustees will receive all the assets and liabilities of the transferring scheme and the deferred and pensioner beneficiaries under the transferring scheme will become deferred and pensioner members and beneficiaries of the IBJ Scheme entitled to benefits under that scheme's new trust deed and rules. Following the merger, the Fuji Bank Scheme will be terminated and wound up. In our view, this definitive deed should be dated on the day of the transfer so it is clear it applies only once the transfer is certain to happen, or at the earliest on the date of the payment in of the 2.7m. As the transfer of beneficiaries from the Fuji Bank Scheme to the IBJ Scheme will be without their consent, a GN16 certificate will be required from the actuary to the transferring scheme. The Principal Employer, the trustees of the Fuji Bank Scheme and the IBJ Scheme are deemed by signing the merger agreement to agree to the terms contained therein. There then follows a number of warranties provided by the trustees of the Fuji Bank Scheme confirming the Scheme is exempt approved, setting out the benefits provided under the Scheme, and confirming that the data being transferred is up to date (to the best of the trustees' knowledge), there are no outstanding claims against the transferring trustees (nor claims which the transferring trustees are currently taking) and that the transferring trustees undertake not to make any benefit improvements prior to the merger date in respect of any of the transferring beneficiaries without the consent of Mizuho Corporate Bank Limited and the IBJ Trustees. The IBJ Scheme trustees are being asked to warrant that the IBJ scheme is exempt approved, benefits which are currently provided under the receiving scheme are as set out in the definitive trust deed which will be appended to the deed of merger, to the best of the actual knowledge or recollection no claims have been made against the IBJ trustees for actions undertaken in the Pensions Ombudsman's Office or with OPRA, nor are they pursuing any claims or actions against third parties, and that they will undertake to make such amendments to the governing documents of the IBJ Scheme as shall be required. There then follows a number of more standard clauses dealing with the transfer and assignment of assets and liabilities, benefits to be provided under the receiving scheme and how additional voluntary contributions would be dealt with. The ringfencing provisions are included in the merger deed please see comments at section B paragraph (H). There then follows a number of standard clauses dealing with the winding up of the Fuji Bank Scheme - receipt of member contributions, linked qualifying service and
5 continued rights, contracted out employment, member-nominated trustees, death benefit nomination forms. (j) (k) The Principal Employer agrees to pay the fees and costs of both the Transferring Trustees and the Receiving Trustees. Following our previous meeting with the Principal Employer, an indemnity has been included under which the Principal Employer agrees to indemnify the IBJ Scheme Trustees against claims that it was negligence, fraud or other breach of trust to agree to enter into the deed of merger, and including wide indemnities in the event of a claim relating to other aspects of the benefits being transferred in, for example, that the benefits were not equalised, or failure to provide discretionary benefits which were previously provided under the Fuji Scheme. In our view this is a sufficiently wide indemnity, and taken with the indemnity in the IBJ Scheme deed and rules, provides the IBJ Scheme Trustees with reasonable cover if they properly enter into the deed of merger. (l) The Trustees should note however, that there is an indemnity in identical (wide) terms for the benefit of the Fuji Trustees. Under this indemnity, if the Principal Employer fails to indemnity the Fuji Trustees fully, the IBJ Scheme Trustees will indemnify them out of the assets of the IBJ Scheme during the time that the ringfencing is in operation, provided that the indemnity shall be limited to the extent of the ringfenced assets. (m) (n) In previous drafts of the deed of merger, an adverse event clause was included. This has now been deleted in its entirety. Under clause 20, the agreement can be executed in counterpart, so it will not be necessary for all trustees to be together, but clearly the trustees will wish to question ourselves and Gissings on the terms of the transfer. The agreement will bind successors to both the IBJ Scheme and the Fuji Bank Scheme trustees. E Ability to reclaim a debt on the employer The Trustees will recall that we obtained a legal opinion from Japanese lawyers on the enforceability of a debt in Japan. The conclusion of the opinion is that (although it is not absolutely straightforward) a judgement debt obtained in this country should be enforceable in Japan as a debt without a retrial of the substantive merits before a Japanese court. This is important, as one of our concerns is that the debt on the employer legislation whilst known and understood here, may be less clear to a Japanese court if a trial on substantive issue had to take place there. The merger document has been amended to incorporate clear governing law provisions and service provisions, which would allow the ringfencing debt to be claimed here and enforced against the Japanese parent. The full buy out debt on the employer would probably be enforced through the provisions of the deed and rules, but there are also helpful provisions in the governing law clause in the merger deed too designed to assist if enforcement of this debt ever becomes an issue. In practice, this is an issue for the IBJ Scheme trustees whether or not this merger goes ahead. In our view the merger deed slightly improves the IBJ Scheme Trustees' position and does not worsen it. F Trustees' Duties When considering the exercise of the powers under the IBJ Scheme's trust deed and rules and debating whether to comply with the requests of Mizuho Corporate Bank Limited, the trustees need to bear in mind their overriding duties imposed by general trust law which may be summarised for these purposes as follows: To promote the best interests of the beneficiaries (present and future) in their capacity as beneficiaries "best interests" generally means best financial interests;
6 (ii) (iii) to act exclusively as trustees setting aside their other roles (for example, shareholders, directors, employees or union representatives); to ignore extraneous considerations, for example, self interest as a director, a member or an employee. The trustees should, however, bear in mind that an occupational pension scheme operates in a commercial context. Although Mizuho Corporate Bank Limited should not be regarded as a primary beneficiary, nevertheless the trustees do owe duties to try and accommodate the legitimate commercial decision made by Mizuho Corporate Bank Limited in connection with dealing with the pension schemes of their employees. Accordingly, the trustees should not act in a manner which imposes an unnecessary burden on Mizuho Corporate Bank Limited. When considering whether and how to exercise the powers under the IBJ Scheme's deed and rules, the trustees need to consider three basic issues: (ii) (iii) do the trustees have the relevant power? what are the mechanics for the exercise of the power? should the trustees exercise the power? These issues will be looked at in the remainder of this paper. G Do the trustees have the relevant powers? At rule 1, clause 2 in the current IBJ Scheme rules and rule 7 in the proposed new definitive deed, the trustees of the IBJ Scheme do have the power to accept the assets and liabilities. Both powers are relevant because the Trustees need to have the power both to enter into the Merger Deed, and to accept the transfer a month later, at which point it is envisaged that the deed and rules will have been replaced. Under the current IBJ Scheme rules, the Trustees may with the consent of the Principal Employer accept a transfer to the Scheme or the assets of any other retirement benefit fund, plan or arrangement approved by the Inland Revenue. Transferring members to be entitled to such benefits under the IBJ Scheme as may be agreed between the Trustees and the Transferring Trustees provided that any amount certified as representing employees' contributions shall be treated as such in the IBJ Scheme. Acceptance of any transfer in imposes an obligation on the IBJ Trustees to obtain a certificate from the Transferring Trustees or administrator of the other Scheme as to the period of employment to which the transfer relates and what part (if any) of the transferred assets represents employees' contributions made to the other scheme and also what conditions (if any) appertain to the refund of contributions. The certificate must also state the maximum amount which could be taken by the member or members in a lump sum form under the rules of the other scheme. Additionally, transfers in respect of guaranteed minimum pensions or accrued rights may be revalued by the IBJ Scheme actuary on any one of the bases as specified in the revaluation rule (rule 29). The Trustees are also being asked to execute a new definitive deed and rules. This involves the exercise of clause 15 (the amendment power). Under clause 15, the principal employer from time to time by deed executed by the Principal Employer and the Trustees may amend the Scheme but the power of amendment may not be exercised to relieve the Principal Employer or any associated employer from liability for any company contributions that have become payable before the effective date of amendment. No amendment can be made to the provisions of the Scheme which prejudices or adversely affects any pension or annuity then payable or the rights of a member of the Scheme who is no longer in pensionable service. Nor can an amendment be made if in the opinion of the actuary it operates to reduce the aggregate value of the members' benefits payable under the Scheme of any member who is in pensionable service. Subject to the trustees' decision to agree to the
7 merger on the proposed terms, the trustees do have the power to replace the deed and rules with the amended deed and rules. H Should the trustees exercise their powers? The IBJ Trustees need to weigh all the factors outlined in this note and the actuarial advice in reaching their conclusion. There is existing case law to suggest that the IBJ Scheme Trustees should not stand in the way of a reasonable proposal by the Principal Employer to run its schemes as it wishes. Edge v the Pensions Ombudsman established that the Trustees have a duty not to stand in the way of the company's legitimate commercial interests in the running of its business. However, they need to be satisfied that in agreeing to the proposal they are not materially worsening members security or benefits. One issue needs specific consideration, which is, would refusal to agree to the merger on the proposed terms worsen the existing members' position? Before 11 June, this often included a consideration of the likelihood that the Principal Employer will trigger a winding up of the Scheme. Since 11 June, with the issue of revised regulations, governing the basis on which any debt on the employer would be calculated, it has both become less likely perhaps that a Principal employer would trigger a winding up and much less of a concern that members would be severely adversely affected. This is because where a solvent employer winds up a scheme now, any debt on the employer is to be calculated on the basis of the full buy out costs of all benefits. The Trustees should consider whether a winding up of the scheme is in their view likely in which case the members will lose both future earnings linkage for past benefits and future accrual. A winding up should not however have the severe adverse effect on members' past benefits as would have been the case prior to 11 June 2003, assuming the principal employer is solvent and sufficiently so to pay the full buy out cost. In essence the options for the trustees are to proceed with the merger on the basis as set out or not to agree. The trustees should bear in mind that since the merger process began they have obtained a significantly better deal than that originally offered. They are obtaining some pre-funding into the Scheme in agreeing to the merger. They are also obtaining some benefit improvements. Against this there is some weakening of the Scheme provisions as set out in this note. However it is our view that, subject to actuarial advice confirming that the funding position is not materially worsened, agreeing to this merger proposal is within the reasonable range of options available to the IBJ trustees if they so decide. Addleshaw Goddard 5 March 2004
DATED 8TH MARCH 2001 THE DELPHI DIESEL SYSTEMS PENSION SCHEME. DEFINITIVE TRUST DEED AND RULES as amended by a Deed dated 25th March, 2008
DATED 8TH MARCH 2001 THE DELPHI DIESEL SYSTEMS PENSION SCHEME DEFINITIVE TRUST DEED AND RULES as amended by a Deed dated 25th March, 2008 CMS Cameron McKenna Mitre House 160 Aldersgate Street London EC1A
More informationHERMES GROUP PENSION SCHEME
HERMES GROUP PENSION SCHEME CONSOLIDATED RULES AS AT 1 NOVEMBER 2011 Sacker & Partners LLP 20 Gresham Street London EC2V 7JE T +44 (0)20 7329 6699 F +44 (0)20 7248 0552 DX 42615 Cheapside www.sackers.com
More informationINFORMATION NOTE FOR TRUSTEES ON THEIR SERVICE PROVIDERS & ADVISERS
INFORMATION NOTE FOR TRUSTEES ON THEIR SERVICE PROVIDERS & ADVISERS 1. About this information note 2. Trustees relationship with Advisers and Service Providers 3. Trustees responsibility for delegated
More informationPENSION SCHEMES ACT 1993, PART X DETERMINATION BY THE DEPUTY PENSIONS OMBUDSMAN
PENSION SCHEMES ACT 1993, PART X DETERMINATION BY THE DEPUTY PENSIONS OMBUDSMAN Applicant Scheme Respondent(s) Mr S Travis Lloyds Bank Offshore Pension Scheme Pension Investment Plan (PIP) Section (the
More informationTrust Deed and Rules of the Scheme
Trust Deed and Rules of the Scheme (adopted with effect from 21 March 2016 and incorporating all amendments made to 21 March 2016) Page 1 of 82 THE METAL BOX PENSION SCHEME Index to Trust Deed and Rules
More informationNAB EQUITY LENDING. Facility Terms
NAB EQUITY LENDING Facility Terms This document contains important information regarding the terms and conditions which will apply to your NAB Equity Lending Facility. You should read this document carefully
More informationSTANDARD PROVISIONS OF THE SOCIETY OF TRUST AND ESTATE PRACTITIONERS. Draft/Second Edition For consultation with members of STEP
STANDARD PROVISIONS OF THE SOCIETY OF TRUST AND ESTATE PRACTITIONERS Draft/Second Edition For consultation with members of STEP The text of the 2 nd Edition of the STEP Standard Provisions is as follows:
More informationFUNDING DEFINED BENEFITS ACTUARIAL REPORTS
ACTUARIAL STANDARD OF PRACTICE PEN-1 FUNDING DEFINED BENEFITS ACTUARIAL REPORTS Classification Mandatory MEMBERS ARE REMINDED THAT THEY MUST ALWAYS COMPLY WITH THE CODE OF PROFESSIONAL CONDUCT AND THAT
More informationRestricting pensions tax relief Government policy decisions on the reduced annual and lifetime allowances. slaughter and may.
Restricting pensions tax relief Government policy decisions on the reduced annual and lifetime allowances slaughter and may October 2010 Contents A. Summary of key Government decisions 01 B. How accurate
More informationSolvency protection for private pension systems background note on United Kingdom perspective
Solvency protection for private pension systems background note on United Kingdom perspective George Russell, Chief Actuary: Pensions Policy, Demography & Statistics Division United Kingdom Government
More informationScheme Rules. S/RO6 rules booklet
Scheme Rules S/RO6 rules booklet Contents Rule Page 1. Scheme status, definitions and interpretation 4 1.1 Scheme status 4 1.2 Contracted-out Scheme 4 1.3 Definitions 4 1.4 Interpretation 5 1.5 Transitional
More informationIntroducing the 2016 Summary Funding Statement to all defined benefit (DB) members and beneficiaries of the Capgemini UK Pension Plan ( the Plan )
Introducing the 2016 Summary Funding Statement to all defined benefit (DB) members and beneficiaries of the Capgemini UK Pension Plan ( the Plan ) As the Trustees of the Plan, we are required to send you
More informationHome Loans Terms & Conditions
Home Loans Terms & Conditions Effective from 30 September 2017 Important Information This booklet contains the Terms and Conditions of our Home Loans. The Contract for the Loan is made up of the relevant
More informationBBC Pension Scheme. Actuarial valuation as at 1 April June willistowerswatson.com
BBC Pension Scheme Actuarial valuation as at 1 April 2016 30 June 2017 willistowerswatson.com 1 Summary The main results of the Scheme s actuarial valuation are as follows: Technical provisions funding
More informationAppointment of independent. trustees A consequence of the economic downturn Received: 10th April, 2003
Appointment of independent trustees A consequence of the economic downturn Received: 10th April, 2003 Philip Goodchild is Senior Assistant Solicitor within the Employment Pensions and Benefits Group at
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondents Mr A Scargill National Union of Mineworkers Officials' and Permanent Employees' Superannuation Fund National Union of Mineworkers (NUM) The Trustees
More informationCONSOLIDATED TRUST DEED FOR SUNSUPER PTY LTD AS TRUSTEE FOR SUNSUPER SUPERANNUATION FUND
CONSOLIDATED TRUST DEED FOR SUNSUPER PTY LTD AS TRUSTEE FOR SUNSUPER SUPERANNUATION FUND SUNSUPER PTY LTD ABN 88 010 720 840 SUNSUPER SUPERANNUATION FUND CONSOLIDATED TRUST DEED Consolidated to 20 April
More informationDuties and responsibilities of the trustee
Duties and responsibilities of the trustee 15 Any person assigned the duty to manage interests on behalf of others has a responsibility to fulfil this duty to the best of his ability, and in accordance
More informationAdditional information for carrying out a Section 143 valuation. Version 4
Additional information for carrying out a Section 143 valuation Version 4 April 2017 Contents Section 1 Section 2 Section 3 Further information on the s143 valuation process Simplified summary of compensation
More informationREVIEW OF PENSION SCHEME WIND-UP PRIORITIES A REPORT FOR THE DEPARTMENT OF SOCIAL PROTECTION 4 TH JANUARY 2013
REVIEW OF PENSION SCHEME WIND-UP PRIORITIES A REPORT FOR THE DEPARTMENT OF SOCIAL PROTECTION 4 TH JANUARY 2013 CONTENTS 1. Introduction... 1 2. Approach and methodology... 8 3. Current priority order...
More informationA-Z of pensions and actuarial terminology
A-Z of pensions and actuarial terminology Version 1.0 July 2013 A-Z of pensions and actuarial terminology Status of this information This document is intended to be a general guide to some of the most
More informationThe New Airways Pension Scheme Actuarial Valuation as at 31 March 2006
The New Airways Pension Scheme Actuarial Valuation as at 31 March 2006 The New Airways Pension Scheme Report on the actuarial valuation as at 31 March 2006 To the Management Trustees and to British Airways
More information[Date] POLAR CAPITAL TECHNOLOGY TRUST PLC. - and - [name] DEED OF INDEMNITY
[Date] POLAR CAPITAL TECHNOLOGY TRUST PLC - and - [name] DEED OF INDEMNITY Herbert Smith LLP Exchange House Primrose Street London EC2A 2HS 1 THIS DEED is made on the [date] day of [year]. BETWEEN (1)
More informationBUYOUT BOND. (discretionary trust) NOTES FOR COMPLETION
BUYOUT BOND (discretionary trust) NOTES FOR COMPLETION 1. In submitting this document then, depending on the property being gifted, you are requesting Old Mutual Wealth Life Assurance Limited to date the
More informationICT SERVICES AGREEMENT SCHEDULES SCHEDULE 9.1 STAFF TRANSFER
ICT SERVICES AGREEMENT SCHEDULES SCHEDULE 9.1 STAFF TRANSFER CONTENTS Section A: Section B: Section C: Product Description Guidance Pro-forma/Example Schedule ICT_schedule9.1_v2.1 1 Section A Product Description
More informationImpact of the Element Six Judgement.
Impact of the Element Six Judgement The Element Six Case Title 1 (Greene & Ors v Coady & Ors 2012/7254P) Alan Broxson 20 February 2014 Introduction Brief history Proceedings issued July 2012 128 plaintiffs,
More informationSubject to arrangements being made to cover the shortfall, benefits will continue to be paid from the Plan.
Introducing the 2016 Summary Funding Statement to all defined benefit (DB) members and beneficiaries of the Capgemini UK (2004) Pension Plan ( the Plan ) As the Trustees of the Plan, we are required to
More informationMODEL DEED OF GUARANTEE AND INDEMNITY (2003 Edition)
MODEL DEED OF GUARANTEE AND INDEMNITY (2003 Edition) The Steering Committee has updated and revised the Model Deed of Guarantee and Indemnity launched in 2001. The updated version is referred to as the
More informationLLOYD'S DEPOSIT TRUST DEED (THIRD PARTY DEPOSIT) (INTERAVAILABLE CORPORATE MEMBER VERSION) (1) ( the Ceasing Member ) (2) ( the Continuing Member )
DTD (TP) (IA - CM) (LIFE) (17) Member Code: (the Ceasing Member) (the Continuing Member) LLOYD'S DEPOSIT TRUST DEED (THIRD PARTY DEPOSIT) (INTERAVAILABLE CORPORATE MEMBER VERSION) Long-Term Insuran c e
More informationBrand New Superannuation Fund
Superannuation Trust Deed for a Self- Managed Fund for Brand New Superannuation Fund CLEARDOCS PTY 1 Albert St Hawthorn VIC 3000 Tel: 03 98869123 Fax: 03 98869123 it@cleardocs.com http://www.cleardocs.com
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondents Mr T CMG UK Pension Scheme (the Scheme) CMG Pension Trustees Limited (the Trustees) JLT Benefits Solutions Limited (JLT) Outcome 1. Mr T s complaint
More informationWORKING COPY ONLY. Colonial Mutual Superannuation Pty Limited ( Trustee ) The Colonial Mutual Life Assurance Society Limited ( Insurer )
WORKING COPY ONLY COLONIAL SUPER RETIREMENT FUND DEED Colonial Mutual Superannuation Pty Limited ( Trustee ) The Colonial Mutual Life Assurance Society Limited ( Insurer ) Original Deed Dated 1 May 1993
More informationTrustees focus. Malcolm Wicks Minister for Pensions
Trustees focus. We do not expect trustees to be experts on everything or to have the detailed technical knowledge of a professional... They need to know what the trust deed and scheme rules say and what
More informationA GUIDE FOR MEMBERS contributing 6.5% to the First Active Pension Scheme. First Active Pension Scheme
A GUIDE FOR MEMBERS contributing 6.5% to the First Active Pension Scheme First Active Pension Scheme 1 2 A GUIDE TO YOUR PENSION SCHEME Your pension scheme is one of the most important and valuable benefits
More informationElite Retirement Account
Elite Retirement Account DATED DATED 23 SEPTEMBER 22 JULY 20142008 governing the Elite Retirement Account CONTENTS 1. TRUST 2 2. MEMBERS OF THE SCHEME 2 3. ELITE MEMBERS 2 4. SIMPLE MEMBERS 3 5. INVESTMENT
More informationDiscretionary Trust Deed
Section 1 Date of Trust Date of trust DD/MM/YYYY Section 2 - People putting the Initial Assets in the Trust The Settlor means the people putting the Initial Assets in the Trust. Settlor 1 - name Settlor
More informationPart II: Handling Conflicts of Interest between Insured and Insurer: The Lawyer s Dilemma
Handling Professional Indemnity Coverage Issues in Cases of Suspected Fraud Part II: Handling Conflicts of Interest between Insured and Insurer: The Lawyer s Dilemma Alison Padfield Devereux A. Introduction
More informationInvensys Pension Scheme Members Booklet
Invensys Pension Scheme Members Booklet For all employees who joined the Invensys Pension Scheme between 6 April 2000 and 31 October 2004. Please keep this booklet in a safe place for future reference.
More informationIMPLEMENTATION OF THE TAKEOVERS DIRECTIVE
IMPLEMENTATION OF THE TAKEOVERS DIRECTIVE Response to PCP 2005/5 by the Joint Working Party on Takeovers of the Law Society of England and Wales' Standing Committee on Company Law and the City of London
More informationa true partnership approach > > > BARNETT WADDINGHAM SELF INVESTED PERSONAL PENSION Trust Deed and Rules
a true partnership approach > > > BARNETT WADDINGHAM SELF INVESTED PERSONAL PENSION Trust Deed and Rules Effective from 22 October 2013 Dated BW SIPP LLP BW SIPP TRUSTEES LIMITED DEED relating to the BARNETT
More informationTerms and Conditions FOR THE COLLECTIVE INVESTMENT BOND
Terms and Conditions FOR THE COLLECTIVE INVESTMENT BOND These terms and conditions only apply to Collective Investment Bonds that are on Charge Basis 1 and 2. If your bond is on Charge Basis 3, please
More informationHeritage Bank Limited Superannuation Plan
Consulting (Australia) Pty Ltd ABN 55 153 168 140 AFS Licence # 411770 33 Exhibition Street Melbourne Vic 3000 GPO Box 9946 Melbourne Vic 3001 61 3 9623 5047 Fax 61 3 8640 0800 julie.a.cook@mercer.com
More informationCHESS explanation. Securities Transfers
CHESS explanation St.George Bank A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 ( we and us ) has a legal responsibility to explain CHESS sponsorship to you. When you sign the
More informationNATIONAL PENSION SCHEME (OCCUPATIONAL PENSIONS) ACT 1998 BERMUDA 1998 : 36 NATIONAL PENSION SCHEME (OCCUPATIONAL PENSIONS) ACT 1998
BERMUDA 1998 : 36 NATIONAL PENSION SCHEME (OCCUPATIONAL PENSIONS) [Date of Assent 17 July 1998] [Operative Date 17 May 1999 Sections 2, 54 64, 69 & Second Schedule; 1 January 2000 Remainder Sections] ARRANGEMENT
More informationPension Schemes Act (Northern Ireland) 2016 CHAPTER 1
Pension Schemes Act (Northern Ireland) 2016 CHAPTER 1 Pension Schemes Act (Northern Ireland) 2016 CHAPTER 1 CONTENTS PART 1 CATEGORIES OF PENSION SCHEME 1. Introduction 2. Defined benefits scheme 3. Shared
More informationSTANDARD PROVISIONS OF THE SOCIETY OF TRUST AND ESTATE PRACTITIONERS
1. INTRODUCTORY STANDARD PROVISIONS OF THE SOCIETY OF TRUST AND ESTATE PRACTITIONERS 1(1) These Provisions may be called the standard provisions of the Society of Trust and Estate Practitioners (1st Edition).
More informationSCHEDULE 1 EARLIER SCHEME DOCUMENTS
SCHEDULE 1 EARLIER SCHEME DOCUMENTS Date Document 29 March 1974 Interim Trust Deed 30 August 1974 Deed of Variation 31 August 1977 Resolution of Individual Trustees 4 May 1979 Deed of Variation 25 April
More informationOrdinances of the University of Cambridge CONTRIBUTORY PENSION SCHEME
Conformed Copy incorporating amendments made by Graces dated 22 November 2000, 17 July 2002, 21 July 2003, 24 March 2004, 19 March 2008, 4 February 2009, 2 November 2012, 8 August 2014, 13 May 2015 and
More informationReport on actuarial valuation as at 31 December Church Workers Pension Fund
Report on actuarial valuation as at 31 December 2016 Church Workers Pension Fund 3377205 Page 1 of 32 Church Workers Pension Fund Report on actuarial valuation as at 31 December 2016 As instructed, we
More informationGN19: Retirement Benefit Schemes Winding-up and Scheme Asset Deficiency
GN19: Retirement Benefit Schemes Winding-up and Scheme Asset Deficiency Classification Practice Standard Application The Scheme Actuary responsible for giving advice to the trustees of any UK pension scheme
More informationDISCRETIONARY GIFT TRUST
DISCRETIONARY GIFT TRUST TRUST DEED Phoenix Wealth, Unit Linked Life & Pensions, PO Box 1393, Peterborough, PE2 2TP. Note This document is provided on the strict understanding that it is presented as a
More informationNHS Standard Contract. Fair deal for staff pensions. Draft template schedule 7 and accompanying guidance
NHS Standard Contract Fair deal for staff pensions Draft template schedule 7 and accompanying guidance NHS Standard Contract Fair Deal for Staff Pensions Draft Template Schedule 7 and Accompanying Guidance
More informationOmbudsman s determination
Ombudsman s determination Applicant Scheme Mr D Ogborne Financial Assistance Scheme Summary of the application The Ombudsman has received an appeal against a decision made by the Pension Protection Fund
More informationYOUR ABSOLUTE TRUST. Suitable for Single Life or Joint Life Second Death. Policy Number: Life Assured Name: Life Assured Date of Birth:
YOUR ABSOLUTE TRUST THIS IS A SPLIT TRUST WHERE, AT CLAIM, ANY CRITICAL ILLNESS OR TERMINAL ILLNESS BENEFITS WILL BE PAID TO THE TRUSTEES FOR THE BENEFIT OF THE SETTLOR. Suitable for Single Life or Joint
More informationPershing Securities Limited Terms of Business
Pershing Securities Limited Terms of Business 1 1.1 1.2 1.3 1.4 Relationship between you, Citibank and Pershing Securities Limited These terms of business are provided by PSL and by accepting these terms
More informationA message from the Trustees
A message from the Trustees Welcome to the Luxfer Group Pension Plan. The Plan gives you an easy and cost-effective way to arrange your pension provision in retirement and to provide security for your
More informationStandard Bank Jersey Limited and Standard Bank International Investments Limited. Investment Services Terms of Businesss
Standard Bank Jersey Limited and Standard Bank International Investments Limited Investment Services Terms of Businesss The investments (your Investments ) and cash we hold on your behalf (together, your
More information(Manx Law Bare version) August 2018
LOAN trust DEED (Manx Law Bare version) August 2018 This deed can be used where personal trustees are to be appointed as Trustee. All references to Old Mutual International in this form mean Old Mutual
More informationX-O Terms and Conditions
X-O Terms and Conditions 1 Definitions 1.1 "Account" means an ISA, or a Nominee account managed by us. 1.2 "Account Charges" means our charges in respect of this agreement as published from time to time.
More informationSTANDARD CONDITIONS FOR COMPANY VOLUNTARY ARRANGEMENTS
STANDARD CONDITIONS FOR COMPANY VOLUNTARY ARRANGEMENTS Version 3 January 2013 TABLE OF CONTENTS 1 COMPANY VOLUNTARY ARRANGEMENTS 1 PART I: INTERPRETATION 5 1 Miscellaneous definitions 5 2 The Conditions
More informationInternational Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets
IAS 37 International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets Objective The objective of this Standard is to ensure that appropriate recognition criteria and measurement
More informationOCTOPUS. Trust Transfer Pack INHERITANCE TAX SERVICE. Got a question? Return your completed form and documents to:
OCTOPUS INHERITANCE TAX SERVICE Trust Transfer Pack Return your completed form and documents to: Octopus Investments Limited PO Box 10847 Chelmsford CM99 2BU Got a question? Please speak to your adviser
More informationTHE VAUXHALL & ASSOCIATED COMPANIES PENSION FUND
Registration Number 10000406 THE VAUXHALL & ASSOCIATED COMPANIES PENSION FUND Report and Accounts For the Year Ended 31 December 2007 C O N T E N T S Trustee and Advisers 1 Report of the Trustee 2-6 Investment
More informationTrust Range. Loan Trust. Completing the trust form
Trust Range Loan Trust The Loan Trust is designed to enable the Settlor (or Settlors) to make a gift of the growth of their investment whilst still allowing access to the original capital. For more information
More informationApplication for commercial credit account
Application for commercial credit account 14 day trading account Referred By: Date: To: KATANA FOUNDATIONS AUSTRALIA PTY LTD ACN 163 915 786 and any subsidiary ( KATANA FOUNDATIONS ) I/We the Customer
More informationCONSUMER LOAN & SECURITY AGREEMENT COMMERCIAL TERMS
CONSUMER LOAN & SECURITY AGREEMENT COMMERCIAL TERMS Introducer Approval Number The Effective Date of the Agreement Under this Agreement, (who we call the Lender, we, or us in this Agreement) agrees to
More informationUBS AFS CONTROLLED SUBSIDIARY 3 LTD. (as the Retiring Trustee) SUPERFUND JAPAN TRADING (CAYMAN) LIMITED (as the Manager)
UBS AFS CONTROLLED SUBSIDIARY 3 LTD. (as the Retiring Trustee) SUPERFUND JAPAN TRADING (CAYMAN) LIMITED (as the Manager) SUPERFUND SECURITIES JAPAN, CO., LTD. (as the Distributor) and HARNEYS TRUSTEES
More informationDETERMINE PENSION SCHEME DEATH BENEFITS
This unit involves: Manually calculating and quoting death benefits for members of three different pension schemes: OPQ Scheme money purchase, option to contract out RST Scheme career average revalued
More informationRULES OF STENPROP LIMITED LONG TERM INCENTIVE PLAN
RULES OF STENPROP LIMITED LONG TERM INCENTIVE PLAN The definitions commencing on page 1 of this plan have, to the extent appropriate, been used on the cover page. Approved by ordinary resolution passed
More informationThis Deed of Guarantee and Indemnity
This Deed of Guarantee and Indemnity Is given by Guarantor: (guarantor) (insert name(s) of guarantor(s) if appropriate as trustees of ) In favour of TSB Bank Limited Notice address: TSB Centre, 120 Devon
More informationSEGREGATED ACCOUNTS COMPANIES ACT 2000 BERMUDA 2000 : 33 SEGREGATED ACCOUNTS COMPANIES ACT 2000
BERMUDA 2000 : 33 SEGREGATED ACCOUNTS COMPANIES ACT 2000 [Date of Assent 22 August 2000] [Operative Date 1 November 2000] ARRANGEMENT OF SECTIONS PART 1 INTERPRETATION AND APPLICATION 1 Citation 2 Interpretation
More informationTHE TAKEOVER PANEL PENSION SCHEME TRUSTEE ISSUES RESPONSE STATEMENT BY THE CODE COMMITTEE OF THE PANEL FOLLOWING THE CONSULTATION ON PCP 2012/2
RS 2012/2 22 April 2013 THE TAKEOVER PANEL PENSION SCHEME TRUSTEE ISSUES RESPONSE STATEMENT BY THE CODE COMMITTEE OF THE PANEL FOLLOWING THE CONSULTATION ON PCP 2012/2 CONTENTS 1. Introduction and summary
More informationCertificate of confirmation of advice
Buy-to-let mortgages JULY 2018 Corporate Borrower 0345 849 4040 0345 849 4041 btlenquiries@paragonbank.co.uk www.paragonbank.co.uk to Guarantor A term appearing in bold type in this certificate has the
More informationSTANDARD CVA CONDITIONS
STANDARD CVA CONDITIONS Introduction 1. These standard CVA conditions should be read together with the Proposal to which they are Appended ( the Proposal ) and the definitions set out in the Proposal will
More informationSPECIMEN OF INDEMNITY AND WARRANTY INDEMNITY AND WARRANTY FOR WORKS. THIS DEED OF INDEMNITY AND WARRANTY is made the day of
SPECIMEN OF INDEMNITY AND WARRANTY INDEMNITY AND WARRANTY FOR WORKS THIS DEED OF INDEMNITY AND WARRANTY is made the day of By (1 having its registered office at (hereinafter called "the Contractor" of
More informationTerms and Conditions FOR THE COLLECTIVE INVESTMENT BOND
Terms and Conditions FOR THE COLLECTIVE INVESTMENT BOND These terms and conditions only apply to Collective Investment Bonds that are on Charge Basis 3. If your bond is on Charge Basis 1 or 2, please refer
More informationD&B (UK) Pension Plan. Career Average Revalued Earnings (CARE) section
D&B (UK) Pension Plan Career Average Revalued Earnings (CARE) section Contents Appendix: Welcome Welcome to the D&B (UK) Pension Plan CARE section The D&B (UK) Pension Plan (the Plan ) provides you with
More informationWestpac Protected Equity Loan. Notice to investors
12 November 2016 Westpac Protected Equity Loan Notice to investors The purpose of this notice is to provide updated information to investors in Westpac Protected Equity Loan ( Westpac PEL ) issued by Westpac
More informationAPPLICATION FOR COMMERCIAL CREDIT 30 DAY TRADING ACCOUNT Date:
APPLICATION FOR COMMERCIAL CREDIT 30 DAY TRADING ACCOUNT Date: Referred By: To: ABC BRICK SALES PTY LTD ACN 108 793 460 and any subsidiary or associated entity and as trustee of any trust ( ABC BRICK SALES
More informationChurch Workers Pension Fund. Annual Report and Financial Statements 2017
Church Workers Fund Annual Report and Financial Statements 2017 Church Workers Fund Annual Report 2017 Contents The Church Workers Fund Trustee s report 3 Statement of Trustee s responsibilities 7 Independent
More informationProvisions, Contingent Liabilities and Contingent Assets
International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets In April 2001 the International Accounting Standards Board (IASB) adopted IAS 37 Provisions, Contingent Liabilities
More informationRestricting pensions tax relief for high income individuals
4th March 2010 Issue No: 9 Pensions Bulletin Restricting pensions tax relief for high income individuals Consultation has now closed on the Government s proposals on implementing its controversial plans
More informationHSBC Bank (UK) Pension Scheme HSBC Global Services Section
HSBC Bank (UK) Pension Scheme HSBC Global Services Section Actuarial valuation as at 31 December 2016 1 July 2018 willistowerswatson.com Summary The HSBC Bank (UK) Pension Scheme was segregated into two
More informationT s And C s. Home loan terms and conditions. It s Ours. Effective November 2014
T s And C s. Home loan terms and conditions Effective November 2014 It s Ours. 1 What s Inside Here. 1. What are these terms about? 1 2. When can these terms change? 1 3. What are the different types of
More informationThe Aegean Personal Pension Plan APPLICATION FORM
The Aegean Personal Pension Plan APPLICATION FORM Aegean_ApplicationForm.indd 1 17/10/2013 5:15:17 PM Client Due Diligence In order to comply with prevention of money laundering and funding of terrorism
More informationEXCEPTED GROUP LIFE ASSURANCE TRUST
EXCEPTED GROUP LIFE ASSURANCE TRUST THIS TRUST DEED is made on by,( ) whose office is situated at, (the "Sponsor") 2016 (A) (B) (C) (D) (E) (F) (G) (H) The Sponsor has decided to establish an excepted
More informationA GIFT FIXED TERMS BENEFICIARIES DUTIES OF TRUSTEES ADDITIONAL TRUSTEES STAMP DUTY INHERITANCE TAX (IHT) INCOME TAX IF YOU ARE IN ANY DOUBT
YOUR ABSOLUTE TRUST THIS IS A SPLIT TRUST WHERE, AT CLAIM, ANY CRITICAL ILLNESS OR TERMINAL ILLNESS BENEFITS WILL BE PAID TO THE TRUSTEES FOR THE BENEFIT OF THE SETTLOR. Suitable for Single Life or Joint
More informationSTEP STANDARD. 2nd Edition Written by James Kessler QC TEP With guidance notes by Toby Harris TEP LLB CTA
STEP STANDARD Provisions (England and Wales) 2nd Edition Written by James Kessler QC TEP With guidance notes by Toby Harris TEP LLB CTA STEP Standard Provisions 2nd Edition Introduction to the second edition
More informationImportant information regarding your TD Waterhouse Self-Directed Retirement Savings Plan (RSP)
May 14, 2018 Important information regarding your TD Waterhouse Self-Directed Retirement Savings Plan (RSP) At TD Wealth Financial Planning, we are committed to keeping you informed about matters that
More informationTransfer Payments Chapter 13
Transfer Payments Chapter 13 This document was last reviewed September 2017 Table of Contents Overseas Schemes...2 Buy-Out Bonds...3 New Employer...3 Company Re-organisations...4 Additional Benefits...4
More informationDISCRETIONARY TRUST. (English Law) settlor included
DISCRETIONARY TRUST (English Law) settlor included Notice: This draft document is provided strictly as a draft for consideration by the Settlor s legal advisers. Old Mutual International Ireland dac accept
More informationSri Lanka Accounting Standard LKAS 37. Provisions, Contingent Liabilities and Contingent Assets
Sri Lanka Accounting Standard LKAS 37 Provisions, Contingent Liabilities and Contingent Assets CONTENTS SRI LANKA ACCOUNTING STANDARD LKAS 37 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS paragraphs
More informationSHELL OVERSEAS CONTRIBUTORY PENSION FUND
SHELL OVERSEAS CONTRIBUTORY PENSION FUND SHELL OVERSEAS CONTRIBUTORY PENSION FUND Oct 2013 benefits when you die Your dependants receive And later take a lump sum SOCPF and an option to You get a pension
More informationPENSION SCHEMES BILL
PENSION SCHEMES BILL EXPLANATORY NOTES INTRODUCTION 1. These explanatory notes relate to the Pension Schemes Bill as introduced in the House of Commons on 26 June 2014. They have been prepared by the Department
More informationA Guide to Segregation
A Guide to Segregation 1 / Introduction In theory the tax rules surrounding superannuation balances that support pensions are very simple : no tax is paid on the investment income they generate. This income
More informationTREATT PLC. Deed of Trust and Rules. of the TREATT plc Share Incentive Plan
TREATT PLC Deed of Trust and Rules of the TREATT plc Share Incentive Plan Adopted by resolution of the Directors of Treatt plc on 6 December 2013 Approved by shareholders: [ ] 2014 approved by HM Revenue
More informationDeed of Guarantee and Indemnity
Dated: Part A: The Parties Lender CHINA CONSTRUCTION BANK (NEW ZEALAND) LIMITED Address: Postal Address: PO Box 305 Shortland Street Auckland 1140 Level 16 Vero Centre 48 Shortland Street Auckland 1010
More informationThis booklet outlines the benefits of the ACNielsen (UK) Pension Plan from 1 April 2011 for all members who joined before 1 January 2004.
About This Booklet This booklet outlines the benefits of the ACNielsen (UK) Pension Plan from 1 April 2011 for all members who joined before 1 January 2004. Pensions can seem complicated, but every effort
More informationThe Charity Fixed Interest Fund
Schroders The Charity Fixed Interest Fund Proposal for the Scheme of Arrangement for the merger of The Charity Fixed Interest Fund into The Income Trust For Charities This document is important and requires
More informationCARIBBEAN ACTUARIAL ASSOCIATION. Caribbean Actuarial Association Standard of Practice. APS 1: Pension Schemes Actuarial Valuation Reports
CARIBBEAN ACTUARIAL ASSOCIATION Caribbean Actuarial Association Standard of Practice APS 1: Pension Schemes Actuarial Valuation Reports Approved: November 16, 2012 Table of Contents 1 SCOPE, APPLICATION
More information