The structure of the scheme
The Structure of the SchemeThe scheme has three different Sections which are described briefly below. Full information on each section can be found in the explanatory booklets Information about the closed Defined Benefit (DB) Plan can be found here 1) The Ministers’ SectionThis Section of the scheme is open to Accredited Baptist Ministers and Unaccredited Ministers. Most Accredited Baptist Ministers (nationally accredited by the BUS, BUW or BUGB) are employed by Baptist Churches, but we also have many members who work for other types of organisation eg charities. Unaccredited Ministers are only eligible if working for a:
The Ministers' section is also open to Ministerial Students at Baptist Colleges who are being paid whilst training in pastorate. 2) The Staff SectionThis Section of the scheme is open to staff who work for a:
3) The Basic SectionThe Basic Section is specifically designed so that the employee and employer contributions are less than for the Ministers’ and Staff Sections. There is no Income Protection cover and death in service benefits are lower. To be eligible, the employee must earn at least £5,772 for the 2014/2015 tax year (this figure is known as the Qualifying Earnings Threshold and is set each tax year by the government). 4) Summary
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