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Pensions Superannuation Funds Regulations


Glossary

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Index: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


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Accrued Interest

The pro-rata interest obligation that has accumulated since a bondís last payment date.


Active Member

A Member of a Pension Plan who is presently accruing benefits under the Plan in respect of current service.


Actuarial Valuation

An investigation into the ability of a Pension Plan to meet its liabilities; conducted by an actuary and is usually done to assess the funding level and to provide a recommended contribution rate, by the employer, based on a comparison between the actuarial value of assets and liabilities.


Administrator

The individual or institution who is responsible for the management of the pension plan, i.e., who arranges for pension payments, funding of the plan, monitoring the entries and departures to and from the Plan, etc.


After tax return

The rate of return an investor will receive after adjusting for inflation.


Annuity

A series of payments made at certain intervals until a particular event occurs. This event is usually the death of the annuitant or the end of a stated period.


Appreciation

The increase in the value of an investment over time.


Approved Retirement Scheme

A scheme to which members, usually self-employed or who are not members of an approved superannuation fund, make contributions towards a pension.


Asking Price

The lowest price that anyone has declared that he will sell his security for at a given time.


Asset

An item of value, usually income producing.


Asset allocation

The distribution of invested money over different type of investment instruments such as stocks, bonds and money market instruments.


Bear Market

A declining stock market


Bearer Bond

An unregistered bond whose ownership is determined by possession.


Beneficiary

A person entitled to benefit under a Pension Plan or who will become entitled on the death of a member or former member.


Benefit Statement

A statement or estimate of the benefits payable in respect of an individual in certain circumstances, e.g., death, retirement, etc.


Bid Price

The price that someone is willing to pay for a security or an asset. In the stock market, the bid portion of a stock quote is the highest price anyone is willing to pay for a security at that time. The difference between the ask price and bid price is known as the spread.


Blue-Chip Stocks

Shares of a large, mature company with a steady record of profits and dividends and a high probability of continued earnings.


Bond

A debt obligation (usually long term) in which the borrower promises to pay a set coupon rate until the issue matures, at which time the principal is repaid.


Bonus

Any allocation to a Member from surpluses in the Fund as recommended by the Actuary and approved by the Trustees.


Broker

An employee of a financial intermediary who acts as an agent in the buying and selling of securities. Unlike a dealer, a broker never owns the securities that he or she trades for his or her customers.


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