Common use of Pension allowance Clause in Contracts

Pension allowance. Each participant in the Philips flex pension scheme whose fixed pensionable salary exceeds the maximum pensionable salary from the pension scheme is entitled to a pension allowance of 15% of the difference between the fixed pensionable salary and the maximum pensionable salary. At the end of the calendar month, in conjunction with the payment of the monthly salary, the pension allowance shall be paid, taking into account the applicable part-time percentage.

Pension allowance. Each participant All participants in the Philips flex pension scheme plan whose fixed pensionable salary exceeds the maximum pensionable salary from as stated in the Philips flex pension scheme is plan rules are entitled to a pension allowance of 15% of the difference between the fixed pensionable salary and the maximum pensionable salary. At The pension allowance will be paid with the payment of the monthly salary at the end of the calendar month, in conjunction with the payment of the monthly salary, the pension allowance shall be paid, taking into account the applicable appropriate part-time percentage.