Directive 2014/50/EU of the European Parliament and of the CouncilDangos y teitl llawn

Article 3 U.K. Definitions

For the purposes of this Directive the following definitions apply:

(a)

’supplementary pension’ means a retirement pension provided for by the rules of a supplementary pension scheme established in accordance with national law and practice;

(b)

’supplementary pension scheme’ means any occupational retirement pension scheme established in accordance with national law and practice and linked to an employment relationship, intended to provide a supplementary pension for employed persons;

(c)

’active scheme members’ means workers whose current employment relationship entitles them or is likely to entitle them, after fulfilling any acquisition conditions, to a supplementary pension in accordance with the provisions of a supplementary pension scheme;

(d)

’waiting period’ means the period of employment, required under national law or by the rules of a supplementary pension scheme or by the employer, before a worker becomes eligible for membership of a scheme;

(e)

’vesting period’ means the period of active membership of a scheme, required under national law or the rules of a supplementary pension scheme, in order to trigger entitlement to the accumulated supplementary pension rights;

(f)

’vested pension rights’ means any entitlement to the accumulated supplementary pension rights after the fulfilment of any acquisition conditions, under the rules of a supplementary pension scheme and, where applicable, under national law;

(g)

’outgoing worker’ means an active scheme member whose current employment relationship terminates for reasons other than becoming eligible for a supplementary pension and who moves between Member States;

(h)

’deferred beneficiary’ means a former active scheme member who has vested pension rights in a supplementary pension scheme and is not yet in receipt of a supplementary pension from that scheme;

(i)

’dormant pension rights’ means vested pension rights retained within the scheme in which they have been accrued by a deferred beneficiary;

(j)

’value of the dormant pension rights’ means the capital value of the pension rights calculated in accordance with national law and practice.