cap and collar arrangement
England, Wales
Similar to a pass-through arrangement, this is an arrangement between a contracting local authority and a service provider that is an admitted body to the LGPS. As the LGPS is a defined benefit scheme, the employer's contribution rate will vary depending on the profile of the workforce and the value of the fund's assets.
Under a cap-and-collar arrangement, the service provider agrees to meet any variation in the employer's contribution rate between a minimum and maximum figure with the contracting authority bearing the risk of any increase above the maximum figure, and benefiting from any decrease in the rate below the minimum level through an adjustment to the contract price.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • collar — An arrangement in which both the maximum ( cap) and minimum ( floor) rate of interest payable on a loan are fixed in advance …   Accounting dictionary

  • collar — An arrangement in which both the maximum (cap) and minimum (floor) rate of interest payable on a loan are fixed in advance …   Big dictionary of business and management

  • Salary cap — In professional sports, a salary cap (or wage cap) is a cartel agreement between teams that places a limit on the amount of money that can be spent on player salaries. The limit exists as a per player limit or a total limit for the team s roster …   Wikipedia

  • Court uniform and dress — Court dressOn formal royal occasions in monarchies the dress worn by those present has in the past been prescribed by official regulations. Court dress (as distinguished from court uniform mentioned in the section below) is worn by all men not… …   Wikipedia

  • Court uniform and dress in the United Kingdom — See also: Court dress R. B. Bennett (1870–1947) in court dress. Contents 1 Court dress …   Wikipedia

  • interest rate collar — Under a collar arrangement, both an interest rate cap and an interest rate floor are sold simultaneously. The buyer ensures that if interest rates move outside an agreed range, it will receive payment from the seller. Related links collar… …   Law dictionary

  • Comparison of American and Canadian football — Diagram of an American football field Diagram of a …   Wikipedia

  • Computers and Information Systems — ▪ 2009 Introduction Smartphone: The New Computer.       The market for the smartphone in reality a handheld computer for Web browsing, e mail, music, and video that was integrated with a cellular telephone continued to grow in 2008. According to… …   Universalium

  • Media and Publishing — ▪ 2007 Introduction The Frankfurt Book Fair enjoyed a record number of exhibitors, and the distribution of free newspapers surged. TV broadcasters experimented with ways of engaging their audience via the Internet; mobile TV grew; magazine… …   Universalium

  • dress — /dres/, n., adj., v., dressed or drest, dressing. n. 1. an outer garment for women and girls, consisting of bodice and skirt in one piece. 2. clothing; apparel; garb: The dress of the 18th century was colorful. 3. formal attire. 4. a particular… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.