Definitions for "Vested Rights"
Term used for automatic preserved benefit on leaving occupational pension scheme.
A right is vested when it has become the property of some particular person or persons and cannot be denied to each vested individual without that person's consent. For instance, in a vested pension plan, the rights to benefits cannot be denied to the employees, even if they leave the plan.
Rights which are not contingent; not subject to being defeated by a condition precedent. An absolute title to the present or future enforcement of a demand.