Definitions for "Deferred member"
A scheme in which the benefits provided are calculated by a fixed formula and do not depend on the contributions paid or on investment performance. The most common form of this type of arrangement is a final salary plan, in which benefits are based on a proportion of the individua's final pensionable salary at retirement for each year of pensionable service within the scheme.
A member entitled to preserved benefits.
A member who has opted out of paying into the scheme or has left BA and kept aside their BA pension to receive at retirement.