Rateopsparing Sample Clauses

Rateopsparing. The balance of Rateopsparing will be disbursed in monthly installments over the number of years as stated in Special terms. The employee may choose an alternative number of years, however at least 10 years. Rateopsparing will be disbursed monthly in advance. At the following death of the employee, the remaining installments will be disbursed to the beneficiary/beneficiaries. The beneficiary/beneficiaries may choose to have the remaining installments recalculated into a lump sum disbursement. In case of the death of the employee before the agreed retirement age, the current balance of the Rateopsparing will be disbursed over the number of years as stated in Special terms. The beneficiary/beneficiaries may choose to have the current balance of Rateopsparing disbursed as a lump sum disbursement. If the contribution made into Rateopsparing exceeds the maximum amount determined in the legislation, the remaining sum will be applied for other savings covers in accordance to the order of priority made by the employee, see Special terms. Velliv will only take into consideration contributions made to other Rateopsparing products and temporary life annuity if these have been stated. For employees comprised by change of provider to Velliv, Velliv will determine the amount expected to have already been applied to Rateopsparing in the ceding company during the year when the change of provider takes place. The amount is determined from the the agreed contribution made on the registration date and will then be used in the calculation of the amount which the employee can contribute into a Rateopsparing as a maximum in the year of the transfer. If Velliv receives information about actually applied amount for Rateopsparing from ceding company – before the pension scheme is established in Velliv – this information will be used instead. The Rateopsparing will be established as life insurance with tax relief (tax treatment 2). The disbursement is taxable.
Sample 1
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