Qualified auditor

A person appointed to act as auditor who must not be:

• a member or trustee of the pension scheme
• a person employed by any of the trustees
• an employer of any member of the pension scheme
• a director of the employer or a participating employer.

Qualified member

In relation to the member trustee selection process, an active member or a pensioner (but not a deferred pensioner or a dependant or other beneficiary receiving payments from the scheme). Qualified members may vote in a preliminary poll or an election.

Qualifying family leave

Any period throughout which a member is absent from work for family reasons, and in respect of which the employer pays the member's salary.

Qualifying fund manager (QFM)

A financial institution authorized under the 1999 Finance Act to operate approved retirement funds (ARFs) on behalf of the self-employed and proprietary directors. Includes banks, building societies, credit unions, the Post Office Savings Bank, bodies authorised for collective investments such as unit trusts, UCITs, etc and members of the Irish or any EU Stock Exchange who have notified Revenue of their intention to act as QFMs.

Qualifying maternity absence

Any period throughout which a woman is absent from work due to pregnancy or childbirth, and in respect of which her employer, or former employer, pays her any salary.

Qualifying service

A term defined in the Pensions Act as the service which a pension scheme member must complete before becoming entitled to a preserved benefit on leaving service. Currently, it is two years' service including any period in a previous scheme from which a transfer value was received.