Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Philips Executives Pension Plan of “Stichting Philips Pensioenfonds”. The pension plan is a combination of average pay (annual accrual percentage: currently 1.25%) and defined contribution (employer contribution: currently 20%). The target retirement age under this plan is 62.5. No employee contribution is required. The pension base is your annual gross salary, as mentioned in paragraph 3 hereof, minus the offset (so-called “franchise”). For further information, please refer to the plan rules with “Stichting Philips Pensioenfonds” and the chapter benefits on the attached CD-rom.
Appears in 3 contracts
Samples: Koninklijke Philips Electronics Nv, Koninklijke Philips Electronics Nv, Koninklijke Philips Electronics Nv
Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Philips Executives Pension Plan of “Stichting Philips Pensioenfonds”” further specified in the letter dated June 28, 2006. The pension plan is a combination of average pay (annual accrual percentage: currently 1.25%) and defined contribution (employer contribution: currently 20%). The target retirement age under this plan is 62.5. No employee contribution is required. The pension base is your annual gross salary, as mentioned in paragraph 3 hereof, minus the offset (so-called “franchise”). For further information, please refer to the plan rules with “Stichting Philips Pensioenfonds” and the chapter benefits on the attached CD-rom.
Appears in 1 contract
Samples: Koninklijke Philips Electronics Nv