Old Age Pension Sample Clauses

Old Age Pension. Article 14
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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).
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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.
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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.
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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,
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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:
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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:
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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.
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Related to Old Age Pension

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Employee Pension Benefit Plans Except as disclosed in ------------------------------ Schedule 3.14, the Company does not maintain or contribute to any arrangement ------------- that is or may be an "employee pension benefit plan" relating to employees, as such term is defined in Section 3(2) of ERISA. With respect to each such plan: (i) the plan is qualified under Section 401(a) of the Code, and any trust through which the plan is funded meets the requirements to be exempt from federal income tax under Section 501(a) of the Code; (ii) the plan is in material compliance with ERISA; (iii) the plan has been administered in accordance with its governing documents as modified by applicable law; (iv) the plan has not suffered an "accumulated funding deficiency" as defined in Section 412(a) of the Code; (v) the plan has not engaged in, nor has any fiduciary with respect to the plan engaged in, any "prohibited transaction" as defined in Section 406 of ERISA or Section 4975 of the Code other than a transaction subject to statutory or administrative exemption; (vi) the plan has not been subject to a "reportable event" (as defined in Section 4043(b) of ERISA), the reporting of which has not been waived by regulation of the Pension Benefit Guaranty Corporation; (vii) no termination or partial termination of the plan has occurred within the meaning of Section 411(d)(3) of the Code; (viii) all contributions required to be made to the plan or under any applicable collective bargaining agreement have been made to or on behalf of the plan; (ix) there is no material litigation, arbitration or disputed claim outstanding; and (x) all applicable premiums due to the Pension Benefit Guaranty Corporation for plan termination insurance have been paid in full on a timely basis.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • UK Pensions (a) Each Loan Party shall ensure that:

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

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