This is basically the difference in the amounts payable under the new budgetary arrangements compared to the old scheme.

The premiums payable under a decreasing term policy shrink each year, in step with the principal balance on a mortgage.

The size of the eventual pension payable under these schemes is not guaranteed from the outset.

The limit of amount payable under this section is £500.

Benefits payable under this type of policy shrink each year; premiums remain the same.

This coverage is completely additional to any benefits payable under Section 7.

The 'net present value' of the rent that would be payable under the lease if the maximum share was purchased is also taken into account.

Full provision will be made for dilapidation payments payable under lease agreements.

At the date of this assignment, the annual rent payable under the lease was £9,800.

However, the disadvantage from the tenant's point of view is that the minimum rent payable under the lease will be increased.