Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
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Multi-Employer Plans are post-empoyment plans other than state plans that pool the assets of various entities that are not under common control and use those assets to provide benefits to employees of more than one entity.
Other Long-term Employee Benefits include employee benefits other than short-term employee benefits, post-employment benefits and termination benefits.
Termination Benefits are Employee benefits provided in exchange for the termination of an employees employment, as a result of either: An entitys decision to terminate an employees employment before the normal retirement date, An employees decision to accept an offer of benefits in exchange for the termination of employment.
The pension fund is a common asset pool meant to generate stable growth over the long term, and provide pensions for employees when they reach the end of their working years and commence retirement.
The National Pension system reflects Governments effort to find sustainable solutions to the problem of providing adequate retirement income.
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