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- Direct payment, paid up insurance scheme .
Member-nominated trustees and member-nominated directors
Member-nominated trustees and member-nominated directors
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Direct payment, paid up insurance scheme
This is an occupational pension scheme under which:- no further contributions are payable;
- an individual's benefits are decided by the value of rights under an insurance contract (or part of it); and
- the insurer and the trustees have agreed that the insurer will pay the benefits directly to the member or to a beneficiary.
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| Related documents |
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| MNT/MND code of practice (PDF) |