HND养老金
Q1: You should be able to summarise and explain the entitlement to UK SBP and S2P generally.
1. SBP & S2P & SERPS
2. who is available to these pensions
3. how to get full SBP
4. NIC credits
5. HRP
6. married woman
答案:1. source of UK state pension
The state basic pension is the fundation of most people’s pension income. Through paying the national insurance contributions, people are qualifying to get pension at a flate rate. If contributions fall, people will get a reduced level of pension.
UK state pension has two components: the basic pension (SBP) and state additional pension (S2P).
The basic pension is often referred to as a first tier pension. Nearly everyone has access to SBP and they build on SBP for the rest of their retirement planning. Everyone including both employee and self-employee who has been credited with enough National Insurance contributions will get the basic pension. Different people qualifying for the full pension get the same pension, so SBP is also called flate-rate pension.
Under S2P, different people get different amounts. S2P is an earnings-related pension which means the amount each person gets is according to their earnings while they were building it up. Self-employed person will not get S2P.
2. person
SBP: over 96 percent of today’s single pensioners and 99 percent of pensioner couples get some basic pension. 1. most employees provided they earn at least a minimum amount or are getting working tax credit 2. self employee 3. people who are being credited with NIC 4. people who volunter to pay NIC
3. ways to get full SBP
Qualifying year: having paid or been credited with enough NIC will counts towards a tax year in the state basic pension. This tax year can be called a qualifying year.
In general, only class 1(paid by employees) class 2 ( paid by the self-employed) and Class 3 (boluntary) count towards building up basic pension. A person must have paid a whole year’s worth of contributions to get a qualifying year. Class 1 and Class 2 can be paid respectively or mixed covering the full 52 weeks.
Working life: The tax years from the one in which you reach age 16 to the last complete tax year before you reach state pension age. One have to pay or been credited with NIC for at leasts 90 percent of the tax years in his working life in order to get full basic pension.
State Pension Age: At the state pension age, people have the right to claim their state pension. This is currently at age 65 for men and age 60 for women. A person’s state pension age is 65, his
working life will be 49 years and his qualifying year is 44years in order to get full basic pension.
Robert led him to the company a homework since 1972. Until 2008, he thirty-six years in qualification. There are ten years to reach his state pension age, 65. So he just needs to continue to keep qualification 8 years at least of 44 qualification years. So he may well get the full qy
4. NIC credits
If people don't get NIC, these years may be gaps in the National Insurance record. People might get credits by being a carer, while training and temporarily working abroad and so on. If one are getting carer’s allowance, she could get credits automatically. But a merried women who is a carer is not eligible for credits, she may get HRP instead of credits. Iona is a carer during her daughter’s first five year’s life. So Iona can get HRP.
5. HRP
Home responsibilities protection (HRP) also helps you to deal with gaps in your contribution record. HRP reduces the number of qualifying years you need in order to get any given level of basic pension.
6. Married women
But HRP can't reduce the required number of years to less than 20 year.
Unfair: their daughter, Ailsa, aged 28, has to work 52 weeks a year to get a qualifying year. But her mother could also get a qualifying year when she was looking after Ailsa at home.
Iona gave up work for the first 5 years of Ailsa’s life. So she can get 5 years of child benefit according to HRP. These years for which Iona gets HRP are deducted from the normal number of qualifying years she needs.
Iona can get SBP according to her own credit record. And as a married woman, she can also have a basic pension based on her husband’s NIC records rather than her own. If wife has reached stata pension age, it is paid direct to her . and if the wife is under state pension age, it is paid as an ‘adult dependency increase’ to the husband. In my opinion, Iona is better to get SBP according to her husband’s credit record for it’s more likely to get full pension.
Q2: Benefits of SERPS in relation to Iona
1. when it is introduced
2. who is available to SERPS and S2P
3. maximum target benefit provided by SERPS and S2P?
答:1. The S2P used to be called the State Earnings Related Pension Scheme (SERPS). But SERPS was changed to S2P from April 2002.
2. person who is available to SERPS and S2P
People with earnings at least equal to the LEL(84Pound a week in 2006-7) could build up SERPS. People could not build up SERPS if they were not working.
But after April 2002, S2P is open to: 1. employees earning at least the LEL 2. people caring for
one or more children under the age of 6 3. people who qualifying for carer’s allowance who is ill or disabled 4. some people who are entitled to long-term incapacity benefit and have worked for at least one-tenth of their working life
Before April 2002, Iona is not belong to SERPS. But after the reform in 2002, people such as Iona caring for children under the age of 6 can build up S2P. it's to Iona’s advantage.
3. maximum targeted benefits provided by SERPS and S2P
S2P:
Certain disable,
Individual entitled to Care Allowance
Long-Term Incapacity
Child Benefits
Income support as sickness / disable
35 hours a week caring for Attendance Allowance
SERPS:
Where state pension age falls on or after 6April 2009, the maximum target benefit provided by SERPS reduces to 20% of band earning. The band referred to lay between the LEL and UEL. This time is nearly Iona’s retirement time.
The maximum SERPS is 20% of her band earnings which means Iona will get lesser pension.
Q3: OPC DC/DB as it relate to Robert
1. 解释OPS
2. what is DC(money purchase scheme)
3. how to join OPS DC
4. what are the terms? DB
5. Pros and cons of DB and DC
答:1. These offer a pension organised by employer, who pays into the scheme in employee’s behalf, though employees are usually required to contribute too. They are usually hard to beat as a way of saving for retirement. Employers are not obliged to offer OPS. And employees do not have to join, but taken part in a valuable scheme is good to retirement. We consume an employee has an OPS. If the employee has to retire because of illness or disability, he will get ill-health benefit. And if the employee reaches his pension age, he can draw tax-free lump sum and get pension at the same time. If the employee dies, there are death benefits that pension will pay for his spouse, children or anyone he has nominated.
2. DC(money purchase scheme)
The main alternative to salary-related schemes. The pension you get depends on how much is invested and how well the investments perform. They are easy to understand but offer no pension promise, making planning ahead for retirement unpredictable and risky.
The amount of pension at retirement depends on: 1. the amount paid into the scheme 2. how well the invested contributions grow 3. the charges deducted 4. annuity rate which determine how much pension you get from the fund that has built up
Unlike DB, with a money purchase scheme, your employer simply pays in s set amount in contributions. This means the employer knows just how much it will cost to provide the scheme and bears no risk of costs running out of control. For these reasons, many employers are turning away from final salary schemes and offering employees DC instead.
3. how to join OPS DC
An OPS may be open to all employees. Or restrictly speaking, OPS is open to a particular group,such as one scheme for working staff and another for management. If the employer agrees to pay for his employee’s OPS, this employee could join OPS.
New age discrimination laws have much effects on retirement ags from October 2006. employer will not have the right to retire an employee before age 65 and should consider if the employee wants to work longer when he reaches age 65. this legislation also applies to OPS but will have little pratical effect since most of the age-related rules that are part of OPS’s design are exempted.
4. what are the terms DB
salary-related schemes, also known as defined-benefit(DB) will provide pension according to a formular based on employee’s pay regardless of the amount of he pays in and the length of time in the scheme. Employees can plan ahead for they usually know roughly how much they will get when retire.
Contributions paid in are invested to build up a fund from which the promised pensions are paid. The amount a employer has to pay varies depending on how well the invested contributions grow and the cost of the pensions once they start to be paid.
The general formula for working out pension of DB is :
Years in scheme * accrual rate* finanal salary=pension
5. PROs and Cons
DB: pros: Employers bears most of the risk involved in saving for retirement in DB. Employers pay running cost and some or all of the costs of providing pensions. Employee could have tax advantages and will get predictable pension benefits. The pension they get is anti-inflation.
Now Robert has the OPS of defined benefit(DB) The rumours of impending changes to DC is not good to Robert.
DC: cons: employees bear all the risks because the pension and other benefits they get will be unpredictable and there is no automatic protection against inflation. Because employers pay less cost than with a DB. DC is to employers advantage.
(DB 的cons: DB is difficult to understand and may lose out when changing jobs. If employers don’t pay the promised contribution into the costly and risky scheme, it will close.
DC 的pros: DC is simple to understand and easy to transfer if employees change jobs )
Q4: limits on contribution
1. how to increase pension
Individuals have several options to improve the situation that they get a low pension from your occupational scheme. These include making additional voluntary contributions(AVCs), and possibly joining an employer’s salary sacrifice scheme.
People can increase their pension through paying extra contributions, starting their pension later and sacrificing salary if available.
2. in-house AVC
In house AVC is associated with OPS and paid in by employees to get further pension. In-house money purchase AVC which is a voluntary contribution has some special features that are charges and investment choice, matched contribution and taking the benefits. In house AVCs are considered to be better value than FSAVCs.
3. free standing AVC
Free standing AVC is a kind of PPS but it allows employees to make further contributions aiming to top up the benefits from their OPS. FSAVC is entirely separated from the main scheme or scheme-related AVCs.
4. maximum pensin contribution
inhouse AVC
‘parent ’ pension fund can decide how much can be paid into an in-house AVC. And employees can invest up to 15% of their earnings split between the employer’s scheme and the AVC. But after the 2006 A Day reform, there is no limit on how much you pay into pension scheme. However people can get tax relief only on contributions paid up to P3600 or equal to their ‘relevant earnings’.
FSAVC
Unlike AVCs, there can be only one FSAVC operating in any one tax year. An individual can invest up to 15% of their earnings split between the other schemes and the FSAVC. But after the 2006 A Day reform, there is no limit on how much you pay into pension scheme. However people can get tax relief only on contributions paid up to P3600 or equal to their ‘relevant earnings’. 和VAC 一样(the changes of FSAVC is the same as in house AVC)
Q5: AVC in relation to Robert
Pension Scheme in the 1980s
Pension benefits and limits will be different depending on the date of joining. Approval pre-1987 applies to employees who joined a scheme of their current employer before 17 March 1987 Pension Accrual Rate
The maximum ‘working life’ which can count for this purpose is 40 years. So the maximum pension benefit is 40/60th of final remuneration. Under pre-1987 approval conditions, is was possible for a 2/3rd final remuneration benefit. With the acceletated accrual, Robert can very likely to get the maximum benefit as a fraction of final remuneration.
Inland Revenue Limits:
Earnings Cap
There is no monetary cap covering eranings for those subject to pre-1987 approvel conditions, so Robert don’t have to worried about earnings cap.
下载文档
热门试卷
- 2016年四川省内江市中考化学试卷
- 广西钦州市高新区2017届高三11月月考政治试卷
- 浙江省湖州市2016-2017学年高一上学期期中考试政治试卷
- 浙江省湖州市2016-2017学年高二上学期期中考试政治试卷
- 辽宁省铁岭市协作体2017届高三上学期第三次联考政治试卷
- 广西钦州市钦州港区2016-2017学年高二11月月考政治试卷
- 广西钦州市钦州港区2017届高三11月月考政治试卷
- 广西钦州市钦州港区2016-2017学年高一11月月考政治试卷
- 广西钦州市高新区2016-2017学年高二11月月考政治试卷
- 广西钦州市高新区2016-2017学年高一11月月考政治试卷
- 山东省滨州市三校2017届第一学期阶段测试初三英语试题
- 四川省成都七中2017届高三一诊模拟考试文科综合试卷
- 2017届普通高等学校招生全国统一考试模拟试题(附答案)
- 重庆市永川中学高2017级上期12月月考语文试题
- 江西宜春三中2017届高三第一学期第二次月考文科综合试题
- 内蒙古赤峰二中2017届高三上学期第三次月考英语试题
- 2017年六年级(上)数学期末考试卷
- 2017人教版小学英语三年级上期末笔试题
- 江苏省常州西藏民族中学2016-2017学年九年级思想品德第一学期第二次阶段测试试卷
- 重庆市九龙坡区七校2016-2017学年上期八年级素质测查(二)语文学科试题卷
- 江苏省无锡市钱桥中学2016年12月八年级语文阶段性测试卷
- 江苏省无锡市钱桥中学2016-2017学年七年级英语12月阶段检测试卷
- 山东省邹城市第八中学2016-2017学年八年级12月物理第4章试题(无答案)
- 【人教版】河北省2015-2016学年度九年级上期末语文试题卷(附答案)
- 四川省简阳市阳安中学2016年12月高二月考英语试卷
- 四川省成都龙泉中学高三上学期2016年12月月考试题文科综合能力测试
- 安徽省滁州中学2016—2017学年度第一学期12月月考高三英语试卷
- 山东省武城县第二中学2016.12高一年级上学期第二次月考历史试题(必修一第四、五单元)
- 福建省四地六校联考2016-2017学年上学期第三次月考高三化学试卷
- 甘肃省武威第二十三中学2016—2017学年度八年级第一学期12月月考生物试卷
网友关注
- 神奇的瑜伽
- 黄庭坚清平乐教学课件Word[1]1
- 微笑,唱生活的歌
- 阀门知识简介(中)Word
- 北京版新版一年级上册第四单元10素练字语文活动4教案
- 2016中考复习——名词答案Word
- 幼儿园活动统计表
- 培训师的百宝箱课堂游戏实战经典(44页)Word
- 人性的弱点Word
- 标准韩国语第一册单词
- 战略制定的三项任务-37页Word
- 阀门知识简介(下)Word
- 文心Word
- 北京版新版一年级下册第四单元单元备课
- PN结Word
- 北京版新版一年级上册第三单元当堂检测当堂检测第1.2课
- PN结Word
- 第十章 成本控制Word
- 北京版新版一年级上册第三单元第1山村.2人有两件宝教案
- 章燕+幼儿园早操活动方案
- 压铸模资料Word
- 第3课盛唐气象课件19中华书局版七年级下Word
- 战略制定的三项任务-37页Word
- 排球传球课教案,高中
- 20141222涿州大石桥综合项目前期策划方案Word
- 20150209金港之都第一阶段报告【终稿】Word
- 中药学基础知识Word
- 政治经济学 第十章 垄断资本及其发展Word
- 第2课_贞观之治(中华书局版)Word
- 培训师的百宝箱课堂游戏实战经典(44页)Word
网友关注视频
- 沪教版牛津小学英语(深圳用) 四年级下册 Unit 12
- 小学英语单词
- 【部编】人教版语文七年级下册《泊秦淮》优质课教学视频+PPT课件+教案,广东省
- 七年级英语下册 上海牛津版 Unit9
- 沪教版牛津小学英语(深圳用) 四年级下册 Unit 8
- 二年级下册数学第二课
- 第4章 幂函数、指数函数和对数函数(下)_六 指数方程和对数方程_4.7 简单的指数方程_第一课时(沪教版高一下册)_T1566237
- 北师大版八年级物理下册 第六章 常见的光学仪器(二)探究凸透镜成像的规律
- 冀教版小学数学二年级下册1
- 【部编】人教版语文七年级下册《泊秦淮》优质课教学视频+PPT课件+教案,湖北省
- 苏科版数学七年级下册7.2《探索平行线的性质》
- 苏科版数学八年级下册9.2《中心对称和中心对称图形》
- 冀教版小学数学二年级下册第二单元《有余数除法的简单应用》
- 【部编】人教版语文七年级下册《过松源晨炊漆公店(其五)》优质课教学视频+PPT课件+教案,辽宁省
- 沪教版牛津小学英语(深圳用) 四年级下册 Unit 3
- 苏科版数学 八年级下册 第八章第二节 可能性的大小
- 沪教版八年级下册数学练习册21.3(3)分式方程P17
- 19 爱护鸟类_第一课时(二等奖)(桂美版二年级下册)_T3763925
- 北师大版小学数学四年级下册第15课小数乘小数一
- 【部编】人教版语文七年级下册《过松源晨炊漆公店(其五)》优质课教学视频+PPT课件+教案,江苏省
- 每天日常投篮练习第一天森哥打卡上脚 Nike PG 2 如何调整运球跳投手感?
- 19 爱护鸟类_第一课时(二等奖)(桂美版二年级下册)_T502436
- 外研版英语七年级下册module3 unit2第一课时
- 化学九年级下册全册同步 人教版 第18集 常见的酸和碱(二)
- 七年级英语下册 上海牛津版 Unit3
- 第五单元 民族艺术的瑰宝_16. 形形色色的民族乐器_第一课时(岭南版六年级上册)_T1406126
- 二年级下册数学第一课
- 外研版八年级英语下学期 Module3
- 沪教版八年级下次数学练习册21.4(2)无理方程P19
- 北师大版数学四年级下册3.4包装
精品推荐
- 2016-2017学年高一语文人教版必修一+模块学业水平检测试题(含答案)
- 广西钦州市高新区2017届高三11月月考政治试卷
- 浙江省湖州市2016-2017学年高一上学期期中考试政治试卷
- 浙江省湖州市2016-2017学年高二上学期期中考试政治试卷
- 辽宁省铁岭市协作体2017届高三上学期第三次联考政治试卷
- 广西钦州市钦州港区2016-2017学年高二11月月考政治试卷
- 广西钦州市钦州港区2017届高三11月月考政治试卷
- 广西钦州市钦州港区2016-2017学年高一11月月考政治试卷
- 广西钦州市高新区2016-2017学年高二11月月考政治试卷
- 广西钦州市高新区2016-2017学年高一11月月考政治试卷
分类导航
- 互联网
- 电脑基础知识
- 计算机软件及应用
- 计算机硬件及网络
- 计算机应用/办公自动化
- .NET
- 数据结构与算法
- Java
- SEO
- C/C++资料
- linux/Unix相关
- 手机开发
- UML理论/建模
- 并行计算/云计算
- 嵌入式开发
- windows相关
- 软件工程
- 管理信息系统
- 开发文档
- 图形图像
- 网络与通信
- 网络信息安全
- 电子支付
- Labview
- matlab
- 网络资源
- Python
- Delphi/Perl
- 评测
- Flash/Flex
- CSS/Script
- 计算机原理
- PHP资料
- 数据挖掘与模式识别
- Web服务
- 数据库
- Visual Basic
- 电子商务
- 服务器
- 搜索引擎优化
- 存储
- 架构
- 行业软件
- 人工智能
- 计算机辅助设计
- 多媒体
- 软件测试
- 计算机硬件与维护
- 网站策划/UE
- 网页设计/UI
- 网吧管理