Funded Unapproved Retirement Benefits Scheme GAD Government Actuary Department
Funded Unapproved Retirement Benefit Scheme. A rarely used employer paid scheme usually for higher paid employees paid in excess of the earnings cap. The tax treatment of FURBS is significantly less favourable than for standard occupational schemes and Personal Pensions. There are also Unfunded Unapproved Retirement Schemes (UURBS) which are even rarer.
Funded Unapproved Retirement Benefit Scheme. A pension scheme that does not receive such favourable tax treatment as approved schemes, but is not restricted by contribution limits.