Jargon buster

Company is C & J Clark Limited and any subsidiary or associated company whose employees are included in the Fund.

Dependant is any person who:

  • Was married to you at the date of your death, or
  • Is your child, who is under age 23 or was 23 or over and was, in the Trustees' opinion, at the date of your death dependent upon you because of a physical or mental condition, or
  • At the date of your death, and in the Trustees' opinion, either financially dependent on you, a person with whom you had a financial relationship of mutual dependance or was dependent upon you because of physical or mental impairment.

Final Pensionable Pay is your highest Pensionable Pay in your last five complete tax years of Pensionable Service.

Incapacity means that as a result of physical or mental deterioration there is no reasonable prospect of you being capable of following any employment of any description at any time in the future. It is for the Company to decide whether you suffer from incapacity. If it decides that you do, the Trustees also have to approve the decision.

Normal Pension Age is age 65.

Pensionable Pay is your annual basic salary or wages, overtime and certain other payments, less the amount of the single person’s Basic State Pension.

Pensionable Service is the years and months you have been a member of Plan 35 plus any additional period you have been granted as a result of the transfer of money from Plan 18. 

© Clarks Pensions 2014