Single pricing means that there is only one price for units of a fund. Therefore, buyers and sellers of units trade at the same price. However, that single price may swing between a bid price or an of [..]

Association of British Insurers. The ABI represents the collective interests of the UK's insurance industry, including all the major pension providers. On its website the ABI sets out its role as [..]

An investment policy/strategy that aims to give the same return regardless of market conditions. The return should not rise or fall in line with UK equities, but will often offer a fixed percentage ab [..]

The rate at which a member builds up pension benefits in a defined benefit pension scheme.

The benefits for service already completed. See also: accrued rights.

The rights related to service already completed to which a member is entitled under an occupational pension scheme. The value of accrued rights for active members may be calculated on the basis of cur [..]

The management of assets (eg equities, gilts) in which the skill of the fund manager is used to select particular stocks at particular times, with the aim of achieving higher than average growth for t [..]

A member of an occupational pension scheme who is at present accruing benefits under that scheme in respect of current service.

An actuarial report is the actuary's estimate of changes to the funding position of the scheme since the last actuarial valuation. Unlike the actuarial valuation it will not usually be based on s [..]

Commonly refers to an investigation by an actuary into the ability of a defined benefit scheme to meet its liabilities. This is usually to assess the funding level and recommend a contribution rate. S [..]