money purchase scheme
- (1) (except in COBS 19.11)159 in relation to a director, means a pension scheme under which all of the benefits that may become payable to or in respect of the director are money purchase benefits.
- (2) (in COBS 19.11) means a relevant pension scheme under which all of the benefits that may become payable to or in respect of a member of the relevant pension scheme are money-purchase benefits.159