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Jargon Buster

MNT/MND

Member Nominated Trustee/Member Nominated Director

MFR

Minimum Funding Requirement

Money Purchase Arrangement

see Defined Contribution Scheme above.

Minimum Funding Requirement

The discredited and now defunct minimum funding requirement for defined benefit schemes. Replaced by the statutory funding objective for actuarial valuations after 22 September 2005.

Member Nominated Trustee

The Pensions Act 1995 made provision for member nominated trustees (or member nominated directors, where there is a corporate trustee). The original opt out available to employers has ceased to apply. Currently, members must be allowed to nominate one third of the trustees.

Articles

RIP Trusts? Long Live Family Partnerships?

It seems that trusts are viewed currently as the source of all tax-planning evil. A series of legislative changes have made trusts extremely unattractive for wealthy UK clients. This article summarises the current status of trusts in UK tax planning before reviewing the proposed alternative of family partnerships. To what extent can partnerships be used to replicate trust planning?

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