Keogh and Pension Plans

Vesting age pension plans are retirement savings accounts where the plan participant must reach a certain age before they can access the funds without penalty. This age is known as the vesting age, and it is typically set by the plan administrator. Once the participant reaches the vesting age, they can start receiving retirement income from the plan.

The pension of a Lieutenant Colonel who retired before 2006 would depend on various factors such as years of service, rank, and salary at retirement. It is calculated based on a percentage of the average of the last 36 months of basic pay. A retirement calculator specific to military pensions can provide an accurate estimate.

(UK Answer)

There are in essence three types of pension plan in the UK. Each have a different method of obtaining a projection of your future retirement benefits.

These are:-

1) Your state pension. A pension paid to you by the Department for Work and Pensions based on your national insurance record from during your working life

2) Any personal pensions. These are pensions that you have chosen to save within during your working life. These could be with a Life insurance company or a bank.

3) Any occupational pension pensions. These are pensions that are set up and managed by your employer. There are various types of occupational pension schemes that exist

1) State Pension forecast

Your state pension is calculated by your national insurance record that you build up during your working life. You can obtain a projection of your state pension online. (See the related link)

2) Personal Pension Projections

Your pension provider, for example a life insurance company or bank will be able to provide you with an indication of how much your pension will be when you come to retire. Pension projections and statements can be complicated to understand, and therefore you might like to consider taking financial advice.

3) Occupational Projections

Your employer, or the payroll/HR department will usually be able to tell you whom you should contact in order to obtain a projection of your future benefits. If you no longer work for the employer that set up your pension plan you may like to try the pension tracing service, which can be found online. (See the related link)

There are different types of occupational pension schemes. However, these could be broadly classified in to 2 types.

Firstly, Defined Benefit or Final Salary. This is where you will receive a known amount of income based on your years-service for your employer and your income either throughout your employment history or your salary in the final year before retirement.

Secondly, there is Defined Contribution or Money Purchase. This is where the amount of income at the end of your working life is based on the amount of contributions that are made by you or your employer throughout your working life.

Dear Comlonels, It is already April 2009 , the arrears were to be partly paid out in FY 2008-09 , but no news till date .All officers who retired after 01 Jan 2006 had to send their Latest Bank account details and present address to to Archieves cell CDA , Pune by 31 Jan 2009 .I guess The Archieves cell needs to firstly calculate the Pay in new scales ,work out the arrears for period served after 01 Jan 2006 , pay the same to officers .Besides this LPC(last Pay Certificate ) with the new Pay details has to be also made by Archieves cell and sent to CDA Pension Allahabad - who need to calculate the arrers of pension from retirement date and pay the same to bankers (officer) besides sending a revised PPO to the bank for payment of pension on refixed pay . Frankly speaking I am not sure as to by when these arrers will get setteled for us remember our serving brothers have already got the arrears and new pay scales form Dec 2008 . We all need to send a PIL to CDA on this issue ! Cheers XYZ

Contact your pension provider or retirement benefits office to inquire about the status of your pension payments. They can provide information on any possible reasons for the delay and guide you on how to resolve the issue. Ensure you have all necessary documentation and information related to your pension when reaching out for assistance.

The age at which you can start receiving state pension varies by country. In the United States, the full retirement age for Social Security benefits is currently between 66 and 67, depending on the year you were born. In the United Kingdom, the current state pension age is gradually increasing and is currently between 66 and 67. It's important to check with your country's social security administration for the most up-to-date information on state pension age.

To calculate your pension as of 30.9.08, you would need to take into account any increases in pension over the years due to inflation or government policy changes. Without that specific information, it's challenging to provide an accurate figure. Typically, pension increases are applied periodically to ensure retired individuals keep up with the cost of living.

The old age pension age varies by country. In the United States, the full retirement age for Social Security benefits is currently between 66 and 67, depending on the year you were born. In other countries, the pension age may differ, so it's best to check with your country's retirement system for specific information.

a lot of union jobs will give a pension after 20 years of service so age is not counted but time of service. disability may get you social security disability if you have enough quarters in the work force other it's 62 or 65 years old

It is unlikely that you would qualify for a pension from Owens-Illinois after working there for only 7 years, especially if this was 38 years ago. Pension eligibility and vesting rules vary by company, but typically require a longer tenure for full benefits. You may want to contact Owens-Illinois directly to inquire about any potential benefits you may have.

The pension for a Havildar of 17 years of service in Y Group would vary depending on factors such as the last drawn salary, pension rules applicable at the time of retirement, and any additional benefits or deductions. It is advisable to consult with the relevant pension authorities or use online pension calculators for a more accurate estimate.

The amount of pension a married man will receive at 65 depends on various factors such as the country's pension system, years of contribution, and salary history. It's best to consult with a financial advisor or refer to the specific pension plan for accurate information.

The average monthly pension amount varies widely depending on factors like the retiree's years of service, salary history, and pension plan terms. In the US, the average monthly pension is around $1,500-$4,000.

In most cases, you cannot access your frozen pension before the age of 55 unless you are in ill health. It is important to check the specific rules of your pension scheme, as some may have different provisions for early access.

A pension is a form of transfer payment, which is direct financial assitance to those who are no longer capable of working (after the age of retirement). A pension is given to those who work in both the public sector (government servants) and the private sector(not all private sector workers have a pension fund) for a given period of time. Thus if you have to work for 40 years to be eligable for the pension scheme and if you complete those 40 years then you will get a pension for the rest of your life.

Yes

Pacific Northwest Bell (PNB) is a former Bell System company that has undergone various mergers and changes. If you have a vested pension benefit from Pacific Northwest Bell and are seeking information or need to contact someone about your pension, consider the following steps:

1. Identify the Plan Administrator:

   • Determine the entity or organization currently responsible for administering the pension plan. This may involve researching past mergers and acquisitions that affected Pacific Northwest Bell's pension plans.

2. Check Plan Documents:

   • Review any pension plan documents, statements, or communication you have received. These documents may contain contact information for the plan administrator or details on how to inquire about your vested pension benefits.

3. Contact the Company or Successor:

   • If Pacific Northwest Bell has undergone mergers or acquisitions, contact the current company or successor that may be responsible for managing pension benefits. Check the company's official website or contact their human resources or benefits department for assistance.

4. Retirement Benefits Department:

   • Reach out to the retirement benefits department of the current company or organization associated with Pacific Northwest Bell. This department is likely to have information about pension plans and benefits.

5. Employee Assistance or Benefits Hotline:

   • Some companies provide employee assistance or benefits hotlines. Check if the company associated with Pacific Northwest Bell has a dedicated hotline for retirement benefits or pension-related inquiries.

6. Contact the Pension Provider:

   • If Pacific Northwest Bell had an external pension plan provider or trustee, consider reaching out to them for information. Contact details for the pension provider may be available in your plan documents.

7. Government Resources:

   • If you are having difficulty locating information or the company is no longer in operation, you may contact government agencies for assistance. The U.S. Department of Labor and the Pension Benefit Guaranty Corporation (PBGC) can provide guidance on pension-related matters.

8. Legal or Financial Advisors:

   • Consult legal or financial advisors who specialize in pension and retirement planning. They may be able to guide you on the appropriate steps to take and provide assistance in navigating the process.

It's crucial to have relevant documents, such as your pension plan statements and any communication received from Pacific Northwest Bell, when reaching out for assistance. Additionally, stay persistent and patient, as obtaining information about pension benefits may take some time.

Keep in mind that specific details about your pension may be subject to privacy and confidentiality rules, so be prepared to provide necessary identification and verification information when contacting relevant parties.

Assalam o alaikum,

The Age limit for entitlement to EOBI Pension is 60 years for men and 55 years for women.if a registered worker suffer from any disease or injury other than Occupational disease or employment injury he can apply for invalidity pension.before the age of 60 years or 55 as the case may be.

Abdul Majid

The former group of companies known as White Consolidated Industries (WCI), purchased in the late 1980's by Electrolux, a Swedish appliance company, are required by an action of the Pension Benefits Guaranty Corporation (an independent agency of the Federal Gov't) to maintain and continue to operate the old WCI pension plan and pay benefits accordingly.

If you had sufficient WCI service time to be vested under the plan ( a minimum of 5 years, I think it was), then you are probably eligible for a WCI pension.

They don't make it easy to find out how to do this though. It took me a solid month of digging around online and by phone to get to the right people.

Without knowing any of the particulars of your WCI employment (were you hourly, salaried, etc. and which WCI company did you work for), I can't really specifically say where you should begin.

Here are a couple of general suggestions though...

1) Contact the Pension Benefit Guaranty Corporation and ask them where to start. Relevant addresses/phone numbers can be found on Google.

2) Google "Electrolux, White Consolidated Industries Pension Plan" to find contact information and go from there.

Sorry I cannot be more specific, but each individual situation is different.

Good Luck~!

Whether or not you can collect your ex-husband's pension after being divorced for 32 years depends on various factors, such as the specific laws and regulations of your jurisdiction, the terms of your divorce settlement, and the terms of the pension plan. It is advisable to consult with a legal professional or a pension specialist who can review your specific situation and provide you with accurate information and guidance.

A Standard Life pension is flexible to it's holder, therefore allowing you to start, stop, decrease and increase payments at your own leisure. Personal pension's with Standard Life also benefit from Tax relief.

The minimum pension vesting period changed to five years in the year 1986. This was a significant change that increased the amount of time an employee had to work before becoming fully vested in their pension benefits.

I retired from University as professor. I am currently reemployed as Special Secretary with a pay scale of 75500-80000. From my monthly emoluments a sum of Rs 19000 is deducted which includes pension, allowances, commutation. The audit is of the view that my BASIC pay as retired reemployed pensioner should be fixed ata a level lower than the pay scale by deducting the pension basic from my present basic. Thus, they refix my basic pay as 75500- 22500 (my basic pay at the time of retirement)= 53000.

Is this correct/ How can my new basic be below the minimum of the present scale? What are the rules regarding basic fixation? I was advised by a consultant that the right way to do this is to allow the present scale and allowances and DEDUCT the amount I receive as Pension, commutationand allowances fromt the gross salary received.

Which is correct? How can my basic be below the lowest of the pay scale. How are other allowances calculated?

An act approved by Congress during 2006, but effective for US Pension Plans and their associated benefit payments starting as of January 1, 2008. There are many aspects to this Act that need to be opined upon by the Internal Revenue Service before any employers or employees can make any compliance or benefit distribution decisions including minimum lump sum provisions for employees leaving their employer to retiree or (possibly under the terms of the plan document) go to another employer where their pension plan allows a rollover lump sum. Also to be determined is the minimum funding provisions for employers. The IRS is to expected to issue guidance during 2007 and 2008, and as of July 11, 2007, has not committed to a schedule for releasing specific pieces of guidance about how to calculate lump sumps or as to are what the appropriate funding targets. More to Come

Whether or not you can collect your deceased parent's pension depends on the specific policies of the pension plan. In some cases, a surviving child may be eligible for a portion of a deceased parent's pension, while in others, only a surviving spouse or dependent may qualify. You should contact the pension plan administrator or consult a legal professional to understand your rights and eligibility.