Calculating the Amount of Benefit Payable Sample Clauses

Calculating the Amount of Benefit Payable. 1. If a person is not entitled to the payment of a pension on the basis of the Turkish creditable periods, but if he or she is entitled to the payment of a pension as a result of Article VIII or IX, the following provisions shall apply: 1. The competent social security institution of Turkey shall determine entitlement to the payment of a pension by taking into account totalized creditable periods as if the periods had been completed under Turkish legislation. 2. The competent Turkish social security institution shall determine the amount of the pension to be paid by calculating the fraction of the pension determined as described in subparagraph (a) which represents the ratio of the creditable periods under the legislation of both Parties to the creditable periods under Turkish legislation. 2. In the application of this Agreement, the provisions of the relevant Turkish legislation regarding the decreasing, suspension or withdrawing of the pension shall be taken into account. PART IV - ADMINISTRATIVE AND MISCELLANEOUS PROVISIONS
Sample 1
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Calculating the Amount of Benefit Payable. 1. If a person is not entitled to a retirement pension or a survivors' benefit solely on the basis of the periods creditable under the legislation of Trinidad and Tobago, but is entitled to that pension or benefit through the application of the totalizing provisions of Chapter 1, the competent institution of Trinidad and Tobago shall calculate the value of benefit payable in the following manner: (a) it shall first establish the rate of a retirement pension or a survivors' benefit which would be payable if the person qualified for the benefit on the basis of creditable periods completed under the legislation of Trinidad and Tobago alone; (b) it shall then multiply that rate by the fraction which represents the ratio of the actual creditable periods under the legislation of Trinidad and Tobago in relation to the minimum creditable period required to establish entitlement to that benefit under that legislation; that is to say, Actual creditable periods under the legislation of Trinidad and Tobago established at benefit subparagraph (a) payable Minimum creditable period required for benefit under the legislation of Trinidad and Tobago 2. Notwithstanding any other provision of this Agreement, where a retirement grant is payable under the legislation of Trinidad and Tobago, but entitlement to a retirement pension under that legislation can be established through the application of the totalizing provisions of Chapter 1, the pension shall be paid in lieu of the grant. 3. Where a retirement grant wa s paid under the legislation of Trinidad and Tobago in respect of an event which happened before the date of entry into force of this Agreement, and where entitlement to a retirement pension under that legislation is subsequently established through the application of the totalizing provisions of Chapter 1, the competent institution of Trinidad and Tobago shall deduct from any retirement pension payable any amount previously paid in the form of a retirement grant. 4. Notwithstanding any provision of the legislation of Trinidad and Tobago regarding the time for submission of a claim for benefit, a retirement pension shall be payable provided that: (a) the entitlement to the payment of that pension is established solely through the application of the totalizing provisions of Chapter 1; and (b) the claim is submitted within one year of the date of entry into force of this Agreement or of the date of entitlement to a retirement pension, whichever is later.
Sample 1
Calculating the Amount of Benefit Payable. 1. The provisions on totalization of Chapter 1 shall not be applied if the total duration of creditable periods accumulated by a person under its legislation is less than 12 months. 2. If a person is not entitled to the payment of a benefit solely on the basis of the creditable periods under the legislation of the Philippines, but is entitled to the payment of that benefit through the application of the totalization provisions of Chapter 1, the competent institution of the Philippines shall calculate the amount of benefit payable to that person in the following manner: a) it shall first determine the amount of the theoretical benefit which would be payable under the legislation of the Philippines solely on the basis of the minimum creditable periods required under that legislation; b) it shall then multiply the theoretical benefit by the ratio that the creditable periods actually completed under the legislation of the Philippines represent in relation to the minimum creditable periods required under that legislation.
Sample 1
Calculating the Amount of Benefit Payable. 1. The provisions on totalization of Chapter 1 shall not apply to the basic requirement of three years of residence in Sweden for entitlement to a guarantee pension, to a sickness compensation in the form of guarantee compensation or to an activity compensation in the form of guarantee compensation. 2. When establishing the entitlement to sickness compensation or activity compensation, a creditable period under Philippine legislation shall be considered as coverage under Swedish legislation. 3. When calculating the amount of income-related sickness compensation or income-related activity compensation, only income earned during periods when Swedish legislation was applicable shall be taken into account. 4. When calculating the amount of the income-based pension in the form of supplementary pension to be paid in accordance with the provisions of Chapter 1, only creditable periods completed under Swedish legislation, shall be taken into account.
Sample 1
Calculating the Amount of Benefit Payable. 1. If, under the legislation of the Czech Republic, the conditions for eligibility for a benefit are met without the need to take into account creditable periods accumulated under the legislation of Canada, the competent institution of the Czech Republic shall determine the amount of that benefit exclusively on the basis of the creditable periods accumulated under its legislation. 2. If, under the legislation of the Czech Republic, eligibility for a benefit can be established only through the application of the totalizing provisions of Chapter 1, the competent institution of the Czech Republic: (a) shall calculate the theoretical amount of the benefit which would be paid if the totalized creditable periods had been accumulated under the legislation of the Czech Republic alone; and (b) on the basis of the theoretical amount calculated in accordance with sub-paragraph (a), shall determine the amount of benefit payable by applying the ratio of the length of the creditable periods accumulated under the legislation of the Czech Republic to the totalized creditable periods. 3. For purposes of determining the assessment base used in calculating the amount of a benefit, creditable periods under the legislation of Canada shall be excluded. 4. A supplement due to infirmity which is payable to a person whose eligibility for a pension has been determined through the application of the totalizing provisions of Chapter 1 shall be calculated in accordance with the formula specified in paragraph (2)(b).
Sample 1
Calculating the Amount of Benefit Payable. 1. If, under the legislation of the Republic of Latvia, the conditions for eligibility for a benefit are met without the need to take into account creditable periods accumulated under the legislation of Canada, the competent institution of the Republic of Latvia shall determine the amount of that benefit exclusively on the basis of the creditable periods accumulated under its legislation. 2. If, under the legislation of the Republic of Latvia, eligibility for a benefit can be established only through the application of the totalizing provisions of Chapter 1, the competent institution of the Republic of Latvia: a. shall calculate the theoretical amount of the benefit which would be paid if the totalized creditable periods had been accumulated under the legislation of the Republic of Latvia alone; and b. on the basis of the theoretical amount calculated in accordance with sub-paragraph (a), shall determine the amount of benefit payable by applying the ratio of the length of the creditable periods accumulated under the legislation of the Republic of Latvia to the totalized creditable periods.
Sample 1

Related to Calculating the Amount of Benefit Payable

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • Amount of Benefits The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits payable to the Participant under the Plan.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Cash Balance Within two (2) Business Days after the end of each Fiscal Month, Borrower will deliver a certificate reporting to Agent the Cash Balance as of the last day of the Fiscal Month just ended, which certificate shall be executed and certified by a Responsible Officer of the Borrower as true and correct; (d)

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in Xxxxxxxxx 0 xxxxx, (xx) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

  • Tax Benefit Payments Section 3.1 Payments 12 Section 3.2 No Duplicative Payments 13

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

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