Explain the essential features of a defined benefit,externally managed,non-contributory superannuation plan whose benefits are not vested.

Question

Quizplus · Accepted Answer

The Answer is In the majority of cases,however,the trustees pass the management responsibilities to professionals,such as banks and life insurance companies.The external managers report to the trustees at regular intervals about the earnings performance of the externally managed superannuation plan,its assets and its future prospects.The trustees,of course,remain ultimately responsible for the plan.

Explain the Essential Features of a Defined Benefit,externally Managed,non-Contributory Superannuation