CDC scheme Sample Clauses

CDC scheme. A CDC scheme must at least have the following elements in addition to the other conditions in this chapter: – an accrual percentage of 1.75% per participation year; – a maximum state pension deductible of 1 19,253.53 on 1 January 2019, and a maximum state pension deductible of 1 19,734.87 on 1 January 2020. The maximum state pension deductible will be adjusted in line with the general wage development of this CLA.
Sample 1See All (4)
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CDC scheme. This Annex describes the characteristics of the CDC scheme as referred to in Article 5.2. It must be explicitly stated in the pension regulations that the annual accrual percentage can be reduced if necessary for this scheme. Members Members are employees aged 18 and over. Effective date Before an employee is included in the scheme, there is a waiting period of two months. After this period, the employee is included in the scheme with retroactive effect from the date of commencement of employment, but no earlier than the first day of the month in which the employee reaches the age of 18. During the waiting period, partner's pension and orphan's pension are covered on a risk basis. Retirement age The target retirement age is the first day of the month in which the member reaches the age of 68. Early retirement Members can choose to retire earlier than the retirement age. In that case, they must inform the employer at least six months before the retirement date selected by the member. If the member retires early, the amount of the pension is reduced by actuarially neutral calculations based on the probability systems and actuarial interest rates which are the basis for the financing of the pension scheme. End of employment contract on retirement date The employment contract with the employee ends by operation of law, without further notice being required, on the commencement date of the retirement pension chosen by the employee, but no later than on the day on which the employee reaches the age on which the employee becomes entitled to state pension (AOW). Part-time pension The member can choose to retire part-time. This is subject to the same provisions as early retirement. Pensionable income The pensionable income is 12 times the fixed monthly salary including holiday allowance. The maximum pensionable income is €88,199.62 (2020). This amount is indexed annually with the wage development of the Collective Agreement in the previous calendar year. The reference date for determining pensionable income is 1 January.
Sample 1
CDC scheme. A CDC scheme must at least have the following elements in addition to the other conditions in this chapter: – an accrual percentage of 1.75% per participation year; – a maximum state pension offset of 1 18,506.34 as of 1 January 2017, to be adjusted for the general wage development of this CLA.
Sample 1

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