UUPS - About United Utilities
UUPS - About United Utilities
UUPS - About United Utilities
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Glossary of termsSome of the words andphrases used have specialmeanings. Where theyappear in the Guide, they areshown in bold print.ADDITIONAL STATE PENSIONThe pension, based partly on earnings,that is provided in addition to the BasicState Pension.ADDITIONAL VOLUNTARYCONTRIBUTIONS (AVCS)Contributions you can choose to pay inaddition to your Regular Contributionsto provide extra benefits.COMPANY<strong>United</strong> <strong>Utilities</strong> PLC or associatedcompanies.FUND(S)The fund(s) in which your PersonalAccount and AVCs are invested.NORMAL RETIREMENT DATE (NRD)Your 65th birthday.PENSIONABLE EARNINGSYour annual rate of salary or wages foryour contractual hours of employment,including contractual overtime and anyspecified fluctuating payments notifiedto you by your employer.QUALIFYING SERVICEUsed to decide whether or not benefitscan be awarded. This equals:Pensionable ServiceplusThe period of membership of anotherpension scheme from which a transferhas been paid to <strong>UUPS</strong>plusLeave of absence authorised by theCompany not covered by contributionsto <strong>UUPS</strong>REGULAR CONTRIBUTIONSThese are the contributions that youand the Company are required to payor credit to <strong>UUPS</strong> to provide yourretirement benefits. They do not includeAVCs.The contributions paid into yourPersonal Account are after deductionsfor the cost of basic death in servicecover, Group Income Protection,administration expenses and the cost ofany optional additional death in servicecover chosen.PENSIONABLE SERVICEYour period of actual contributorymembership of <strong>UUPS</strong> up to the date youretire or leave <strong>UUPS</strong> (calculated in yearsand days).PERSONAL ACCOUNTAn individual account which the Trusteesets up and maintains for you. Thepension you receive under <strong>UUPS</strong>depends on the Regular Contributionsyou and the Company make to yourPersonal Account and the investmentreturns earned on those contributions.RETAIL PRICES INDEX (RPI)As published by the Government.STATE SECOND PENSION (S2P)/STATEEARNINGS RELATED PENSION SCHEME(SERPS)The additional pension arrangementsprovided by the Government.TRUSTEEThe Trustee of <strong>UUPS</strong> is <strong>United</strong> <strong>Utilities</strong>Pensions Trustee Limited, a separatelegal entity.<strong>UUPS</strong>The <strong>United</strong> <strong>Utilities</strong> Pension Scheme.26
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