What Is Owners’ Equivalent Rent (OER)? Owners’ equivalent rent (OER) is the amount of rent that would have to be paid in order to substitute a currently owned house as a rental property. This value is also referred to as rental equivalent. In other words, OER figures the amount of monthly rent that would be
What is an Own-Occupation Policy? An own-occupation insurance policy covers individuals who become disabled and are unable to perform the majority of the occupational duties that they have been trained to perform. This type of insurance policy is contingent on the individual being employed at the time the disability occurs. Own-occupation insurance policies are also known as
What Is a P45 Form? P45 is the reference code of a tax form titled “Details of employee leaving work” that an employer gives to an employee upon termination of employment in the United Kingdom. The P45 is part of the pay-as-you-earn (PAYE) system. Under the PAYE system, income tax and National Insurance Contributions (NIC) are withheld from
What Are the P5+1 Countries? The P5+1 countries are a group of nations working together on the Iran Nuclear Deal. The countries include the five permanent members of the United Nations (U.N.) security council, with the addition of Germany. The U.N. security council consists of China, France, Russia, the United Kingdom, and the United States. The agreement is more formally
What Is Pension Adjustment (PA)? A pension adjustment (PA) is the amount a member of a Canadian Registered Retirement Savings Plan can contribute in a given year. Understanding Pension Adjustment (PA) More specifically, a pension adjustment (PA) is an estimation of the value of an individual’s pension and the value assigned by the Canada Revenue
What Is the Pacific Rim? The Pacific Rim refers to the geographic area surrounding the Pacific Ocean. The Pacific Rim covers the western shores of North America and South America, and the shores of Australia, eastern Asia, and the islands of the Pacific. Much of the world’s shipping goes through the Pacific region, especially between China and
What Is a Package Deal? A package deal is an order or transaction that contains a number of smaller exchange or transaction items that must be completed simultaneously, or not at all. Package deals allow traders to ensure specific prices or times to maturity for multiple assets. A package deal may also refer to the
What Are Packaged Retail Investment and Insurance-Based Products? The term packaged retail investment and insurance-based products (PRIIPs) refers to a category of financial assets that are regularly provided to consumers in the European Union (EU) through banks or other financial institutions as an alternative to savings accounts. For regulation’s sake, the category is intentionally broad
What Is Pac-Man? Pac-Man is a high-risk hostile takeover defense tactic that involves the target company attempting to acquire control of the company that bid for it by purchasing large amounts of its stock. This retaliatory measure is designed to deter the prospective buyer. Pac-Man defenses are named after the popular video game originating out of
What Is Paga? Paga is a mobile payment platform that allows its users to transfer money electronically and make payments through their mobile devices. Paga acts as a mobile wallet where any user equipped with a mobile device can conduct transactional activities using their device. Paga was founded in Nigeria in 2009 by Tayo Oviosu
