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Pension liberation

Slovak translation: Prevod dôchodkových práv a uvoľnenie výplaty dôchodku

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Pension liberation
Slovak translation:Prevod dôchodkových práv a uvoľnenie výplaty dôchodku
Entered by: Sofia444

18:20 Mar 18, 2014
English to Slovak translations [PRO]
Bus/Financial - Other / Scots Law
English term or phrase: Pension liberation
In a pension liberation arrangement, money representing a saver's pension rights is transferred out of that person's existing pension scheme to a new scheme, which may be based offshore. the money is then made available wholly or partly as a cash payment back to the saver, while any funds remaining tend to be invested in exotic structures that do not live up to the advertised claims.

Schemes often work alongside 'introducers' or 'advisers', which try to entice members of the public through the use of spam text messages, cold calls or web promotions promising them the opportunity to release a portion of their pension savings as cash before the age of 55. Under rules governing occupational pension schemes, an individual can only claim pension benefits from the age of 55, unless doing so on ill-health grounds. Tax charges on unauthorised payments can be as much as 55% of the value of the payment if the scheme member is under 55.
Sofia444
United Kingdom
Prevod dôchodkových práv a uvoľnenie výplaty dôchodku
Explanation:
Iba podľa vašej definície: "Prevod dôchodkových práv a uvoľnenie výplaty dôchodku"
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Rad Graban (X)
United Kingdom
Local time: 07:59
Grading comment
Dakujem
3 KudoZ points were awarded for this answer



Summary of answers provided
2Prevod dôchodkových práv a uvoľnenie výplaty dôchodku
Rad Graban (X)


  

Answers


32 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
pension liberation
Prevod dôchodkových práv a uvoľnenie výplaty dôchodku


Explanation:
Iba podľa vašej definície: "Prevod dôchodkových práv a uvoľnenie výplaty dôchodku"

Rad Graban (X)
United Kingdom
Local time: 07:59
Native speaker of: Native in SlovakSlovak
PRO pts in category: 7
Grading comment
Dakujem
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