Final pay scheme Sample Clauses

Final pay scheme. A final salary scheme must at least have the following elements in addition to the other conditions in this chapter: – an accrual percentage of 1.5% per participation year; – a maximum state pension deductible of 1 19,734.87 on 1 January 2020, and a maximum state pension deductible of 1 20,011.16 on 1 January 2021. The maximum state pension deductible will be adjusted in line with the general wage development of this CLA.