Part 1: Collective Money Purchase Benefits Definitions Section 1: Collective money purchase benefits and schemes
This section defines the terms ‘collective money purchase benefit’ (CMPB) and ‘collective money purchase scheme’. The definitions refer to the terms ‘qualifying scheme’ and ‘qualifying benefit’ which are defined in subsequent sections. References to ‘collective money purchase scheme’ mean a qualifying scheme or a section of a qualifying scheme, where all of the benefits provided under the scheme or section are qualifying benefits. To be a CMPB the benefit must be a qualifying benefit provided by a qualifying scheme.