The benefits for service up to a given point in time, whether vested rights or not. They may be calculated in relation to current earnings or projected earnings. Allowance may also be made for revaluation and/or pension increases required by the scheme rules or legislation.
for a defined benefit retirement plan, benefits that a participant accumulates based on years of service, expressed as a dollar amount of benefit to begin at the plan's normal retirement age. For any other type of retirement plan, the accrued benefit is the balance in the participant's account.
The benefits for service up to a particular point in time, whether vested rights or not. These benefits may be calculated in relation to current earnings or projected earnings and allowance might also be made for any increases provided for by the scheme rules or by legislation. Sometimes known as accrued rights.
It refers to the amount of a member's interests in a scheme at a particular time that is calculated as the contributions made by the member and his/her employer(s), together with any investment return (profit or loss) on the contributions.