Common use of Concurrence Clause in Contracts

Concurrence. If members are eligible for a benefit under the WIA or the WAO and for any supplementary benefit on the grounds of an occupational disability insurance, their pension is reduced by the total of these benefits. The member must immediately inform the employer of the creation or modification of entitlement to the above-mentioned benefits. Increase of pensions with a supplement (indexation) The employer's ambition is to annually increase the accrued pension entitlements of current and former members as well as the pensions of pensioners with a conditional supplement with effect from 1 January. If the pension scheme is an insured scheme, the supplement is financed from the resources that arise from agreements with the pension provider that are aimed at the aforementioned ambition. Examples are financing from available excess interest or interest rate discounts. If the pension scheme is placed with a pension fund, the supplement, in accordance with the regulations of the fund, also depends on the funding ratio. The funding ratio is the policy coverage ratio of the sector pension fund or company pension fund or of the circle of a general pension fund. Continued pension accrual in the event of incapacity for work The pension accrual is continued on a non-contributory basis in the event of incapacity for work. The accrual takes place on the difference between the income that the member had immediately before their full or partial incapacity for work and the income, including any supplements from the employer, that they receive on account of their full or partial incapacity for work. The pensionable income is adjusted in line with the salary development of the Collective Agreement, see Article 3.2.2.

Concurrence. If members are eligible for a benefit under the WIA or the WAO and for any supplementary benefit on the grounds of an occupational disability insurance, their pension is reduced by the total of these benefits. The member must immediately inform the employer of the creation or modification of entitlement to the above-mentioned benefits. Increase of pensions with a supplement (indexation) The employer's ambition is to annually increase the accrued pension entitlements of current and former members participants as well as the pensions of pensioners with a conditional supplement with effect from 1 January. If the pension scheme is an insured scheme, the supplement is financed from the resources that arise from agreements with the pension provider that are aimed at the aforementioned ambition. Examples are financing from available excess interest or interest rate discounts. If the pension scheme is placed with a pension fund, the supplement, in accordance with the regulations of the fund, also depends on the funding ratio. The funding ratio is the policy coverage ratio of the sector pension fund or company pension fund or of the circle of a general pension fund. Continued pension accrual in the event of incapacity for work The pension accrual is continued on a non-contributory basis in the event of incapacity for work. The accrual takes place on the difference between the income that the member had immediately before their full or partial incapacity for work and the income, including any supplements from the employer, that they receive on account of their full or partial incapacity for work. The pensionable income is adjusted in line with the salary development of the Collective Agreement, see Article 3.2.2.. Annex 5.1.6. Pensions Dispensation Committee Regulations

Concurrence. If members are eligible for a benefit under the WIA or the WAO and for any supplementary benefit on the grounds of an occupational disability insurance, their pension is reduced by the total of these benefits. The member must immediately inform the employer of the creation or modification of entitlement to the above-mentioned benefits. Increase of pensions with a supplement (indexation) The employer's ambition is to annually increase the accrued pension entitlements of current and former members as well as the pensions of pensioners with a conditional supplement with effect from 1 January. If the pension scheme is an insured scheme, the supplement is financed from the resources that arise from agreements with the pension provider that are aimed at the aforementioned ambition. Examples are financing from available excess interest or interest rate discounts. If the pension scheme is placed with a pension fund, the supplement, in accordance with the regulations of the fund, also depends on the funding ratio. The funding ratio is the policy coverage ratio of the sector pension fund or company pension fund or of the circle of a general pension fund. Continued pension accrual in the event of incapacity for work The pension accrual is continued on a non-contributory basis in the event of incapacity for work. The accrual takes place on the difference between the income that the member had immediately before their full or partial incapacity for work and the income, including any supplements from the employer, that they receive on account of their full or partial incapacity for work. The pensionable income is adjusted in line with the salary development of the Collective Agreement, see Article 3.2.2.. Annex 5.1.6. Regulations of the Pensions Dispensation Committee

Concurrence. If members are the member is eligible for a benefit under the WIA or the WAO and for any supplementary benefit on the grounds of an occupational disability incapacity for work insurance, their the member’s pension is reduced by the total of these benefits. The member must immediately inform the employer of the creation or modification of entitlement to the above-above- mentioned benefits. Increase of pensions with a supplement (indexation) The employer's ambition is to annually increase the accrued pension entitlements of current and former members as well as the pensions of pensioners with a conditional supplement with effect from 1 January. If the pension scheme is an insured scheme, the supplement is financed from the resources that arise from agreements with the pension provider that are aimed at the aforementioned ambition. Examples are financing from available excess interest or interest rate discounts. If the pension scheme is placed with a pension fund, the supplement, in accordance with the regulations of the fund, also depends on the funding ratio. The funding ratio is the policy coverage ratio of the sector pension fund or company pension fund or of the circle of a general pension fund. Continued pension accrual in the event of incapacity for work The pension accrual is continued on a non-contributory basis in the event of incapacity for work. The accrual takes place on the difference between the income that the member had immediately before their full or partial incapacity for work and the income, including any supplements from the employer, that they receive receives on account of their full or partial incapacity for work. The pensionable income is adjusted in line with the salary wage development of the Collective Agreement, see Article 3.2.2.. Annex 5.1.6. Regulations of the Pensions Dispensation Committee

Concurrence. If members are eligible for a benefit under the WIA or the WAO and for any supplementary benefit on the grounds of an occupational disability insurance, their pension is reduced by the total of these benefits. The member must immediately inform the employer of the creation or modification of entitlement to the above-mentioned benefits. Increase of pensions with a supplement (indexation) The employer's ambition is to annually increase the accrued pension entitlements of current and former members as well as the pensions of pensioners with a conditional supplement with effect from 1 January. If the pension scheme is an insured scheme, the supplement is financed from the resources that arise from agreements with the pension provider that are aimed at the aforementioned ambition. Examples are financing from available excess interest or interest rate discounts. If the pension scheme is placed with a pension fund, the supplement, in accordance with the regulations of the fund, also depends on the funding ratio. The funding ratio is the policy coverage ratio of the sector pension fund or company pension fund or of the circle of a general pension fund. Continued pension accrual in the event of incapacity for work The pension accrual is continued on a non-contributory basis in the event of incapacity for work. The accrual takes place on the difference between the income that the member had immediately before their full or partial incapacity for work and the income, including any supplements from the employer, that they receive on account of their full or partial incapacity for work. The pensionable income is adjusted in line with the salary development of the Collective Agreement, see Article 3.2.2.