pension fund

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Pension fund

A fund set up to pay the pension benefits of a company's workers after retirement.

Pension

A retirement plan in which an employer makes a contribution into an account each month. The contributions are invested on behalf of an employee, who may begin to make withdrawals after retirement. Typically, pensions are tax-deferred, meaning that the employee does not pay taxes on the funds in the pension until he/she begins making withdrawals. Pensions may have defined contributions, defined benefits, or both. See also: 401(k), IRA.

pension fund

A financial institution that controls assets and disburses income to people after they have retired. Pension funds, which invest in a variety of securities, control such enormous sums that their investment decisions can have significant impact on individual security prices.

pension fund

a financial institution which specializes in the management and administration of personal and corporate PENSION schemes. Pension funds collect regular contributions from individuals, employees and employers in the case of occupational pension schemes, and make payments to retired beneficiaries.

Pension funds use the monies they receive not only to make day-to-day disbursements to pensioners but also to generate additional income and profit by investing their funds in FINANCIAL SECURITIES, mainly UK and overseas government fixed-interest bonds, corporate stocks and shares and property bonds (see INSTITUTIONAL INVESTORS). Their portfolios attempt to maintain a careful balance between immediate liquidity needs and longer term investment returns.

The pension fund movement in the UK is represented by the National Association of Pension Funds (NAPF), which provides a forum for the discussion of matters of general concern to members and acts on behalf of members in dealings with other institutional bodies such as the Institutional Investors Committee and the Government. The investment and management of monies by pension funds are regulated by the INVESTMENT MANAGEMENT REGULATORY ORGANIZATION (for in-company pension funds) and by the FINANCIAL SERVICES AUTHORITY (for retail pension funds) in accordance with various standards of good practice laid down under the FINANCIAL SERVICES ACT 1986.

pension fund

a financial institution that specializes in the management and administration of personal and corporate PENSION schemes. Pension funds collect regular contributions from individuals, employees and employers in the case of occupational pension schemes and make payments to retired beneficiaries.

Pension funds use the monies they receive not only to make day-to-day disbursements to pensioners but also to generate additional income and profit by investing their funds in FINANCIAL SECURITIES, mainly UK and overseas government fixed-interest bonds, corporate stocks and shares, and property bonds (see INSTITUTIONAL INVESTORS). Their PORTFOLIOS attempt to maintain a careful balance between immediate liquidity needs and longer-term investment returns.

The investment and management of monies by pension funds are regulated by the FINANCIAL SERVICES AUTHORITY in accordance with various standards of good practice laid down under the FINANCIAL SERVICES ACT 1986. See FINANCIAL SYSTEM, TRACKER FUND, INDIVIDUAL SAVINGS ACCOUNT.

References in periodicals archive ?
We do not see any adverse impact on the NPS due mutual fund- linked pension funds being according tax benefits," said the acting PFRDA Chairman, RV Verma.
The Pension Fund Regulatory and Development Authority Bill, 2011, was passed in the Rajya Sabha with 115 MPs voting in favour and 25 against including members from the Left Parties and Trinamool Congress (TMC).
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Watkins also filed a third-party claim against Adrian Anderson and North Point Advisors, LLC, the financial advisors for the pension funds on the TradeWinds transaction.
Pension Corporation is in business to create solutions for pension funds that protect members' benefits by mitigating the significant risks they bear.
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Non-profit organizations such as the Anglican church are in a different situation than corporations, which can boost contributions to pension funds out of an increase in profits.
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