Terms beginning with 'P'
The face value at which an issue matures.
A person who is an active member, deferred pensioner or pensioner of a Pension Plan or Retirement Scheme.
An employer whose employees have a right to be members of a scheme. Used where schemes cater for more than one employer.
The length of time until an original investment is recaptured.
A period or lump sum payment to a person following retirement from employment or to surviving dependents of a deceased former employee.
The amount of your earnings that counts in calculating contributions and/or pensions.
The length of employment that is counted towards your pension.
A person who is currently receiving a pension from a Pension Plan.
A person who has been nominated and elected by the pensioners or deferred pensioners of a Fund or Scheme. In Jamaica, a fund or scheme with thirty or more pensioners or deferred pensioners must have at least one pensioner trustee.
A document specifically designed for each pension plan; usually set out in a formal way and given authority by the trust deed. They normally accompany the definitive deed.
Any entity that establishes a pension plan; A designated party, usually a company or employer, which sets up a Retirement Scheme or Pension Plan for the benefit of the members of the Plan or Scheme or the organization’s employees.
A period selected by the trustees of a plan for purposes of the annual report and accounts. It may be any year beginning on (a) a date specified in the plan documents; (b) 1 January; (c) such other date as may be agreed between the trustees and the Pensions Board. It can be more than a year in certain circumstances, but can never exceed 23 months.
A fund in which several investors hold units, whose assets are not held directly for each client, but as part of a “pool”. Unit Trusts are pooled funds.
Benefits that have been paid into or accrued in an employer-sponsored plan and that can be transferred to a new employer’s plan or to an individual who is leaving the workforce.
See also: Plan Sponsor
A holding of securities by an institution or individual.
Service rendered before the start of the relevant Pension Plan or before entry into membership.
Shares whose indicated dividends and liquidation values must be paid before common shareholders receive any dividends or liquidation payments.
The amount by which a bond’s price exceeds its par.
Any benefit emerging on termination of employment or of membership of a pension plan, which is payable at a later date.
Price/Earnings Ratio (P/E)
The stock price relative to the most recent 12-month earnings per share.
The market for initial sales of securities. After this initial sale they are traded in the secondary market.
The rate that banks advertise as the best, although some very secure borrowers may receive a still-lower rate).
Principal (of a Bond)
The face value of bond.
Commonly used in plan documentation for the particular participating employer which is given special powers or duties in areas such as the appointment of trustees, rule amendments and winding up. Usually the employer that started the plan or, in a plan catering for many unrelated employers, one chosen as a proxy for all.
See also: Participating Employer,
A direct securities sale to a small number of large buyers.
Profit (or Loss)
Net revenue minus cost.
An employee in employment to which a plan applies who will join or be entitled to join the plan if he remains in the employment and there is no change either to his contract of employment or to the rules of the plan.
An official document that all companies offering new securities for public sale must file. It details the financial position of the offering company, what the new funds will be used for, the qualifications of the corporate officers and any other relevant information.
A shareholder voting ballot.
A securities sale made through dealers to the general public and registered with the FSC.