compulsory purchase annuity

An annuity that must be purchased with the fund built up from certain types of pension arrangements. When retirement age is reached, a person who has been paying premiums into this type of pension fund is obliged to use the fund to purchase an annuity to provide an income for the rest of his or her life. The fund may not be used in any other way (except for a small portion, which may be taken in cash).

Big dictionary of business and management. 2014.

Look at other dictionaries:

  • compulsory purchase — /kəmˌpʌlsəri pɜ:tʃɪs/ noun the purchase of an annuity with the fund built up in a personal pension scheme …   Dictionary of banking and finance

  • annuity — /ə nju:ɪti/ noun money paid each year to a retired person, usually in return for a lump sum payment. The value of the annuity depends on how long the person lives, as it usually cannot be passed on to another person. Annuities are fixed payments …   Dictionary of banking and finance

  • Annuity (European financial arrangements) — An annuity can be defined as a contract which provides an income stream in return for an initial payment.Immediate annuityAn immediate annuity is an annuity for which the income stream begins at a time after the initial payment which is less than …   Wikipedia

  • ПРИНУДИТЕЛЬНОЕ ПРИОБРЕТЕНИЕ ДОГОВОРА О РЕНТЕ — (compulsory purchase annuity) Приобретение контракта на получение ренты, который должен быть куплен за счет средств, накопленных в некоторых типах пенсионных фондов. При достижении пенсионного возраста лицо, которое вносило премии в пенсионный… …   Словарь бизнес-терминов

  • ПРИНУДИТЕЛЬНОЕ ПРИОБРЕТЕНИЕ ДОГОВОРА О РЕНТЕ — (compulsory purchase annuity) Приобретение контракта на получение ренты, который должен быть куплен за счет средств, накопленных в некоторых типах пенсионных фондов. При достижении пенсионного возраста лицо, которое вносило премии в пенсионный… …   Финансовый словарь

  • List of Acts of Parliament of the United Kingdom Parliament, 1960-1979 — This is an incomplete list of Acts of the Parliament of the United Kingdom for the years 1960 1979. For acts passed prior to 1707 see List of Acts of Parliament of the English Parliament and List of Acts of Parliament of the Scottish… …   Wikipedia

  • The United States of America —     The United States of America     † Catholic Encyclopedia ► The United States of America     BOUNDARIES AND AREA     On the east the boundary is formed by the St. Croix River and an arbitrary line to the St. John, and on the north by the… …   Catholic encyclopedia

  • List of Acts of Parliament of the United Kingdom Parliament, 1980-1999 — This is an incomplete list of Acts of the Parliament of the United Kingdom for the years 1980 1999. For acts passed prior to 1707 see List of Acts of Parliament of the English Parliament and List of Acts of Parliament of the Scottish… …   Wikipedia

  • List of Acts of the Parliament of the United Kingdom, 1980–1999 — UK Legislation Acts of Parliament by states preceding the United Kingdom Of the Kingdom of England Before 1485 1485–1601 · 1603–1641 Interregnum (1642–1660) 1660–1699 · 1700–1706 …   Wikipedia

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.