UBPAS

Jargon Buster

Some terms used in this guidance have a special meaning. These terms are indicated by the use of capital letters and are explained below.

Glossary of terms
Term Meaning
Active Member An Employee who is a member of UBPAS and who has not become a deferred member or pensioner member or otherwise ceased to contribute to UBPAS.
Active Membership Being an Active Member.
Child A child of a Member or former Member under age eighteen or (at the discretion of the Trustees) over that age and currently in receipt of full-time education of vocational training.
Dependant Your legally married spouse;

or

your partner (irrespective of gender) who shared living expenses with, or who received financial support from the Member or former Member and whose standard of living would be affected by the loss of the Member’s or former Member’s contribution or support;

and

anyone (but not a child) who in the opinion of the Trustees is wholly or partly financially dependent on you or to whose maintenance or education you were contributing when you died.
Final Pensionable Salary The greater of your highest Pensionable Salary in any year out of the last three immediately before Normal Retirement Date or earlier date of leaving service,

and

average of the best three years’ consecutive Pensionable Salaries in the last thirteen years immediately before Normal Retirement Date or earlier date of leaving service.

Note: For these calculations each year’s Pensionable Salary, except the last, will be increased in line with changes in the Retail Price Index from the end of each year to the date of retirement or leaving.
Five Year Guarantee The lump sum payable if you die within five years of retirement and which will be the balance of five years' pension payments.
GMP Guaranteed Minimum Pension.
Normal Retirement Date The 31st July coincident with or immediately following your 65th birthday.
UBPAS The University of Bristol Pension and Assurance Scheme.
Pensionable Salary Your annual rate of basic salary or wages including:
  • any regular overtime required under your contract of employment and treated by your employer as part of normal remuneration;

and

  • any pensionable recurrent additions but excluding other overtime and fluctuating payments.
Pensionable Service Your period of service in years and days as an Active Member of UBPAS and any further period credited to you by the Trustees (e.g. due to AVCs paid to the scheme or service credited by transfers in from other schemes [where the request was received after 31 March 1999]).
Qualifying service For the purpose of this guidance, the aggregate of contributory service and service credited as a result of a transfer in from the scheme of a previous employer or a personal pension plan.
Scheme Service The number of years and days of continuous service you complete as a contributory member of UBPAS from the date you join for full benefits up to your Normal Retirement Date or earlier date of leaving service together with any period added by the Trustees due to any transfer received by the Scheme on your behalf [where the request to transfer was received prior to 1 April 1999].

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