INDEX LINKAGE AND LIFESPAN FACTOR Clause Samples

The "Index Linkage and Lifespan Factor" clause establishes how certain financial or contractual values are adjusted over time based on a specified index and the expected duration or lifespan of an asset, obligation, or agreement. In practice, this means that payments, benefits, or liabilities may be periodically recalculated to reflect changes in an external index, such as inflation or a cost-of-living measure, and may also be adjusted according to the projected or actual lifespan of the relevant subject. This clause ensures that the contract remains fair and economically balanced over time by accounting for external economic changes and the longevity of the underlying asset or obligation.
INDEX LINKAGE AND LIFESPAN FACTOR. The amount of an additional pension that has been pegged in accordance with subsection 2.2 is reviewed annually by applying the salary coefficient pursuant to the Employees’ Pensions Act in force on 1 January 2005. Supplementary pensions that are being paid out are tied to the pension index under the Employees’ Pensions Act that is in force on 1 January 2005. Peggings of supplementary pensions based on already recorded paid-up poli- cies and the preservation of their value before retirement are retained un- changed. These peggings refer to, among others, the arrangement made in connection with the dissolution of the Savings Bank Pension Fund, in which the insurance portfolio was transferred to a life assurance company. The lifespan factor pursuant to the Employees’ Pensions Act that came into force on 1 January 2005 will not be applied. Accordingly, the lifespan factor does not have an effect on the amount of the basic pension that is used in cal- culating the amount of the supplementary pension. Nor does it affect the amount of a supplementary pension.
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