These are benefits that have built up for service up to a certain date and are calculated in relation to pensionable earnings.
Retirement benefits earned to date by an employee, which will be expressed in a 401(k) plan in terms of the amount in the employee's account.
The benefits for service up to a given point in time, whether vested rights or not. They may be calculated in relation to current earnings or projected earnings. Allowance may also be made for revaluation and/or pension increases required by the scheme rules or legislation.
for a defined benefit retirement plan, benefits that a participant accumulates based on years of service, expressed as a dollar amount of benefit to begin at the plan's normal retirement age. For any other type of retirement plan, the accrued benefit is the balance in the participant's account.
The benefits a plan participant has already accrued in a defined benefit plan, based on his or her salary and service to date.
The benefits for service up to a particular point in time, whether vested rights or not. These benefits may be calculated in relation to current earnings or projected earnings and allowance might also be made for any increases provided for by the scheme rules or by legislation. Sometimes known as accrued rights.
Represents the superannuation benefits that have already accumulated at a given point in time, and does not include any future benefits.
Advance funded pension plan above par