Glossary beginning with L

Click one of the letters above to go to the page of all terms beginning with that letter.
a b c d e f g h i j k l m n o p q r s t u v w x y z
L
Liquidation
Set of procedures for calculating and paying out benefits to a beneficiary.
Liquidation of pension rights
Liquidation of pension rights must be expressly claimed by the beneficiary. The annual annuity paid to the beneficiary will equate to the number of points accrued multiplied by the service value of a point, following application of an actuarial scale adjusting the service value according to the beneficiary’s age on liquidation of the additional pension benefits. A provisional liquidation is made on the basis of the beneficiary’s established rights under the scheme and adjusted when one or more of the rights are updated. The pension is paid in a lump sum if the beneficiary has accrued less than 5,125 points on the liquidation date.
Lump sum pension
Method of payment of an additional pension for beneficiaries who have accrued less than the threshold of 5,125 points, calculated by applying a conversion ratio to the amount of the annual annuity.