Calculating the defined contribution for Pension Sample Clauses

Calculating the defined contribution for Pension. The maximum fiscally permitted defined contribution for Pension is stated in the decree issued by the State Secretary for Finance on 20 December 2019 (no. 2019-21333). The defined contribution that you have selected is shown in ‘Key Data Pensioenabonnement’, which also tells you what actuarial interest rate has been allowed for and which fiscal regime applies. Your participants can voluntarily make use of the option of making additional contributions. The scope for additional contributions is subject to maximums (determined by Aegon Cappital). Your participants can make calculations in their personal environment on our xxx.xxxxxxxxxxxxx.xx website. The defined contributions are net. That means that we do not deduct any administration costs or insurance premiums from the defined contribution. The defined contribution is charged to you and paid by you. An example of percentages for an age-related defined contribution is given below. From age Graduated scale 15 3.9% 20 4.4% 25 5.4% 30 6.6% 35 8.0% 40 9.8% 45 12.0% 50 14.6% 55 18.0% 60 22.4%
Sample 1
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Calculating the defined contribution for Pension. The defined contribution that you have selected is shown in the ‘Key Data Pensioenabonnement’ annex. Your participants can voluntarily make use of the option of paying in additional amounts. The scope for additional contributions is subject to maximums determined by Aegon Cappital. Your participants can make calculations in their personal environment on our website xxx.xxxxxxxxxxxxx.xx. The defined contributions are net. That means that we do not deduct any administration costs or insurance premiums from the defined contribution. The defined contribution and the additional contribution is charged to you and paid by you. You can calculate a participant’s net defined contribution by multiplying his/her pensionable earnings by the percentage. For participants with an age-related defined contribution, we multiply the participant’s pensionable earnings by the percentage applicable to his/her age. The age we use is the participant’s age on the last day of each month. If the pensionable salary becomes less, we will determine the pensionable earnings again. We do this on the date when the pensionable salary becomes less. How we determine the defined contribution is shown below. Example calculation 2 Defined contribution Let’s assume the participant is 51 and his/her pensionable earnings are € 36,500.00. And the percentage of the defined contribution for his/her graduated scale and age is 14.6%. The defined contribution is € 36,500.00 × 14.6% = € 5,329.00 per year. The defined contribution is € 5,329.00 ÷ 12 = € 444.08 net per month. This contribution is exclusive of administration costs and insurance premiums. The defined contribution is subsequently used for Investment Pension. More information about the Investment Pension can be found in Sections 4 (‘Accrual of pension’) and 8 (‘Death’) of the Pension Regulations. Those sections also tell you about the option that the participant has to ‘click’ the Investment Pension into the Guaranteed Pension at any time. In the case of a Guaranteed Pension, the amount of part of the Pension is already certain from the moment of purchase. This is because these pensions are insured from that point as an amount in euros.
Sample 1
Calculating the defined contribution for Pension. The maximum fiscally permitted defined contribution for Pension is stated in the decree issued by the State Secretary for Finance on 23 November 2017 (no. 2017-187605). The defined contribution that you have selected is shown in the ‘Key Data Pensioenabonnement’, which also tells you what actuarial interest rate has been allowed for, which fiscal regime applies, and what scope there is for ‘Additional contributions’ for the participant. The available premiums are net. That means that we do not deduct any administration costs or insurance premiums from the defined contribution. The defined contribution is charged to you and paid by you. As an example of how we calculate the defined contribution, the table below shows the 4% graduated scale for Pension according to the decree. From age Graduated scale 2 100% 15 3.9% 20 4.4% 25 5.4% 30 6.6% 35 8.0% 40 9.8% 45 11.9% 50 14.6% 55 18.0% 60 22.4%
Sample 1

Related to Calculating the defined contribution for Pension

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