Old Age Pension. Article 14
Old Age Pension minimum provision 1 The old-age pension scheme is applicable to all employees, the implementation of which is regulated in Pension Regulations A and the articles of the Pension Fund for Architectural Firms (XXXX).
Old Age Pension. (AOW) additional insurance If you were born before 1950 and have a younger partner at the time when you become old enough to receive an old age pension (AOW), you are generally eligible for a partner allowance until your partner him- or herself reaches the age of pension eligibility. However, if you were born after 31 December 1949 and have a younger partner at the time you become old enough to receive the pension, you may be faced with a so-called ‘old age pension gap’ (AOW-hiaat). This means that you will receive your own pension but no partner allowance. The partner allowance is approximately € 8,000 per year. If, for example, you are not eligible for the partner allowance and your partner is three years younger than you, the pension gap will cost you € 24,000. You can make arrangements to supplement your income during this ‘pension gap’ period. To facilitate this, the UvA has taken out a collective insurance plan – the old age pension supplement plan (AOW-aanvullingsplan) – with Loyalis. For more information (in Dutch only), see xxx.xxxxxxxxxx.xxx.xx, choose ‘Arbeidsvoorwaarden’, then ‘AOW-bijverzekering’ from the list under ‘Trefwoordenlijst Arbeidsvoorwaarden’. There, you will find a link to the Loyalis site (in Dutch only), through which you can request a premium estimate or register for the collective insurance.
Old Age Pension. A person can qualify for a Dutch old-age pension with as little as one year of Dutch coverage. Therefore, work credits under the U.S. system will not be counted when determining eligibility for the old-age pension. The agreement does permit certain people to qualify for a higher benefit amount based on special credits for periods they resided in the Netherlands before 1957. To qualify for these special pre-1957 credits, you must have earned some Dutch social security coverage after 1956 and meet certain eligibility requirements.
Old Age Pension. The claims to an old age pension obtained with the Merck KGaA Company are transferred to the Company which shall continue them in accordance with the rules and regulations of the Merck XXxX Xxxxxxx.
Old Age Pension. 1. The Employee shall be entitled to an old age pension provided that all benefit preconditions are satisfied and the Employee leaves the Company,
Old Age Pension. The old age pension is based on an indexed average salary system. The accrual per year amounts to 1.75% of the pensionable salary for the year in question. The pension commences on the first day of the month in which the member reaches the age of 68. Partner pension The partner pension is 60% of the accrued old age pension. This pension commences on the first day of the month in which the (former) member dies. A fictitious partner pension is also accrued for single persons. Orphans’ pension The orphans’ pension is a maximum of 14% of the total accrued old age pension for each child. For full orphans, that percentage is doubled. The orphans’ pensions for all children jointly may not, however, amount to more than 70% of the accrued old age pension. The orphans’ pension will be payable until the first day of the month following the moment the child no longer meets the following criteria:
Old Age Pension. The retirement pension is based on an individual defined contribution scheme with a graduated scale showing the minimum premium contribution for each cohort age. This minimum premium contribution is based on a 1.85% DC scale with a development of 1.75%. Cohort age Available premium 15-19 12,86% 20-24 13,72% 25-29 15,06% 30-34 16,55% 35-39 18,18% 40-44 19,99% 45-49 22,03% 50-54 24,32% 55-59 27,01% 60-64 30,29% 65-68 33,52% Partner pension Upon the death of the participant before the retirement date, the partner’s pension is insured on a risk basis and is equal to:
Old Age Pension. In line with the Law, Telenor may decide to cancel Employment Contract and terminate employment of an Employee with 65 years of life and minimum 15 years of insurance. This shall apply to all except cases when Telenor and Employee agree otherwise.
