> ## Documentation Index
> Fetch the complete documentation index at: https://docs.eosb.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Every term used on the EOSB platform, in plain words.

| Term | Meaning |
| - | - |
| **Accrual days** | The number of days' pay each year of service is worth. It rises with length of service, from 22 days in the first year to 60 days after 28 years. |
| **Accrued benefit** | Everything an employee has earned so far: opening balance plus every monthly accrual. |
| **Activation** | The final onboarding step: the admin switches an employer on once its trust is fully set up. |
| **Allocation variance** | How far a portfolio's actual mix of asset types is from its policy mix. |
| **Approvals monitor** | The admin's view of every decision the platform is waiting on. |
| **Asset register** | The list of everything a portfolio holds and what it is worth on a date. |
| **Benchmark** | A reference rate, such as the 91-day Treasury bill rate, that a portfolio's return is compared with. |
| **Benefit payout** | The payment of a leaver's benefit from the trust to their payout account. |
| **Carrying value** | What an asset is currently recorded as worth. |
| **Cash account** | The money a fund manager holds for one trust. |
| **Classification** | The state of a benefit in the ledger: live, held, disputed, settled or closed out. |
| **Computation exception** | An employee the monthly accrual could not calculate, usually because of missing data. |
| **Employer-funded trust cash** | Money the trustee has confirmed into a trust and not yet sent to the fund manager. |
| **Employer profile ID** | An employer's reference on the platform, such as `EMP-1792204467687-1001`. Also the employer's username. |
| **EOSB** | End-of-service benefit: what an employee is owed when they leave, based on salary and length of service. |
| **EOSB trust** | The trust that holds an employer's employees' benefits, kept separate from the employer's own money. |
| **EOSB treatment** | How an employee's benefit is handled: **Standard**, or **5-Year Close-Out** where an arrangement has been agreed. |
| **Expense budget** | The fund manager's plan for a trust's running costs, by category. Spending is only allowed within an approved one. |
| **Final settlement** | The benefit worked out for a terminated employee; the trustee approves it before it is paid. |
| **Funded amount** | Confirmed payments into the trust plus investment income. |
| **Funding proof** | An employer's evidence of a bank or mobile money payment into the trust. |
| **Funding ratio** | Funded amount divided by total liability. |
| **Funding receipt** | The ledger entry for a confirmed payment into the trust. |
| **Fund manager** (TFM) | The organisation that invests a trust's money and pays its running costs. |
| **Independent provider** | A trustee or fund manager an employer appoints for its own trust, accredited by MELSS. |
| **Liability** | What an employer owes all its employees: the sum of their unpaid accrued benefits. |
| **Liability ledger** | The record of every entry that changes an employer's liability or funding. |
| **Maker and checker** | The rule that the person who starts an action is never the one who confirms it. |
| **Mandate** | A fund manager's appointment to manage one trust. |
| **Manual recognition** | Cash a fund manager records without a logged trustee transfer. |
| **MELSS** | The Ministry of Employment, Labour and Social Security, the regulator. |
| **Month-end snapshot** | A frozen copy of the asset register or variance at month-end, used for reports and ROI. |
| **Monthly accrual** | The increase in an employee's benefit over one month, posted automatically after month-end. |
| **NASSIT** | The National Social Security and Insurance Trust number recorded for each employee. |
| **Official platform provider** | The national trustee or fund manager serving trusts on the official platform service model. Only one of each. |
| **One-time code (OTP)** | A 6-digit code sent by SMS, email and WhatsApp to confirm an action that moves or releases money. |
| **Opening balance** | The benefit an employee had already earned before they were registered on the platform. |
| **Outstanding receipt** | Part of a transfer that has not arrived yet but is still expected. |
| **Payout account** | Where an employee's benefit is paid: bank, mobile money, e-wallet or SmartPay wallet. It must be verified. |
| **Policy allocation** | The agreed percentage for each asset type in a portfolio; must total 100%. |
| **Portfolio framework** | A trust's portfolio and its policy allocation. |
| **PSP** | Payment service provider: a bank or mobile money operator connected to the platform. |
| **Readiness checks** | The six requirements an employer must meet before activation. |
| **Recognition** | The fund manager's confirmation of how much of a trustee transfer arrived. |
| **Regulator** (GOV) | MELSS officers who verify organisations and oversee liabilities. |
| **Return to trust** | Money the fund manager sends back to a trust. |
| **ROI** | Return on investment: the gain or loss on money invested over a period. |
| **Service band** | An employee's completed years of service, which decide their accrual days. |
| **SmartPay wallet** | A digital wallet. Employees get one on registration; employers can pay from one when linked. |
| **SSA** | The platform administrator role. |
| **Total liability** | See **Liability**. |
| **Trustee** (TRUST) | The organisation that holds a trust and controls every movement of its money. |
| **Variance** (cash) | Recognised amount minus logged amount. |
| **Write-off** | Taking an asset's carrying value to zero when it has lost all its value. |


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.