View some terms used which may be relevant to your plan.
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Glossary
Terms used in the site
To ensure that our information is presented to you in a clear and understandable way we have listed below some of the terms used on this site, or in our documentation, which may be relevant to your plan.
If you would like to find out more about iPlan Retirement Solutions, please contact us, fill out our enquiry form or call on +44 1624 855538
Additional Voluntary Contributions (AVC’s)
Contributions you may choose to make to the plan over and above any regular mandatory employee contributions.
Bonus sacrifice
Some plans permit the investment of a bonus into the retirement plan. As part of any annual pay review you will be advised of any bonus sacrifice arrangements if applicable.
Country of residence
The country that you are legally resident in during your participation in the retirement plan.
Defined contribution plan
A plan where the retirement benefits are determined by the amounts contributed over the term of the plan and the associated fund performance rather than being based upon a percentage of the participant’s final salary.
Dependant
A person, other than your spouse or civil partner, who in the opinion of the Trustees is financially dependent on you.
Dependant children
Your children under the age of 18 (or 21 if in full-time education). Older children may at the discretion of the Trustee qualify for benefits as specified in your plan rules.
Investment summary
A separate summary outlining the available investment options in your plan.
Member
A person who has met the eligibility requirements of a plan as stated in the relevant plan rules.
iRS
iPlan Retirement Solutions Limited.
Normal retirement age
The normal retirement age for members of a plan as defined in the relevant plan rules for both male and female participants.
Participant
Has the same meaning as member.
Partner
Any individual with whom you are in a long term and committed relationship.
Plan rules
The rules which are adhered to the Trust Deed by which the Trustee will operate the plan and which the member and employer (if applicable) must comply with.
Service
A period of service an employee has served in the employment of the Employer.
Spouse
Your husband or wife.
Trust deed
The legal agreement governing the structure and operation of the plan.
Trustee
The legally responsible party appointed to manage the retirement plan on behalf of its members.
