CONDITIONS OF ENTITLEMENT TO A PENSION Sample Clauses

CONDITIONS OF ENTITLEMENT TO A PENSION. All employees shall have a pension scheme in place once the following conditions have been met: The scheme covers employees who have reached the age of 18. However, the age requirement for trainees is 20 years. The employee must have been employed continuously for three months at one or more companies covered by the collective agreement. This length of service requirement is set aside in cases where the employee was already covered by an occupational pension scheme based on a collective agreement when they were hired. For employees who fulfil the aforementioned conditions, it is also the case that other conditions agreed between the parties in order to achieve risk coverage and receive insurance benefits must be met. For employees who have reached retirement age and where it is not possible to pay premiums for risk insurance, the full pension contribution goes to the old age pension. For employees who receive old age pension benefits but are still active on the labour market and fulfil the conditions for entitlement to the pension scheme, the company’s pension contributions go to an annuity/early retirementearly retirement pension without insurance elements. The company and the employee can enter into an agreement on the company’s contribution being paid as an allowance not giving entitlement to holiday which is paid out annually together with the holiday allowance stipulated in the Danish Holiday Act, cf. section 23(2) of the Act. If the employee leaves, this will be paid together with the last wage payment. Employees who have reached the age of 60 and are not already covered by a pension scheme will not be enrolled in an occupational pension scheme. The company’s pension contribution shall be paid to these employees together with their holiday allowance, cf. section 23(2) of the Danish Holiday Act. Unless otherwise stated in this agreement, the pension scheme shall be set up with: Pension for salaried employees – XXX Xxxxxxx Xxxxxxxxxxxxx 0 XX-0000 Xxxxxxxxxx X Tel.: +00 0000 0000
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CONDITIONS OF ENTITLEMENT TO A PENSION. All employees shall have a pension scheme in place once the following conditions have been met: The scheme covers employees who have reached the age of 18. However, the age requirement for trainees is 20 years. The employee must have been employed continuously for three months at one or more enterprises covered by the collective agreement. This length-of-service requirement is set aside in cases where the employee was already covered by an occupational pension scheme based on a collective agreement when they were hired. For employees who fulfil the aforementioned conditions, it is also the case that other conditions agreed between the parties in order to achieve risk coverage and receive insurance benefits must be met. For employees who have reached retirement age and where it is not possible to pay premiums for risk insurance, the full pension contribution goes to the old-age pension. For employees who receive retirement benefits but are still active on the labour market and fulfil the conditions for entitlement to the pension scheme, the enterprise’s pension contributions go to an annuity/early old-age pension without insurance elements. The enterprise and the employee can enter into an agreement on the enterprise’s contribution being paid as an allowance not giving entitlement to holiday which is paid out annually together with the holiday allowance stipulated in the Danish Holiday Act. When the employee leaves, this will be paid together with the final wage payment. Where it has been agreed between the enterprise and the employee that the enterprise’s contribution is paid together with the holiday allowance, the enterprise can from 1 May 2020 choose to pay the enterprise contribution on an ongoing basis with the wage as an allowance not giving entitlement to holiday. Amendment as per 1 May 2020: For employees who reach retirement age on 1 May 2020 or later, the following applies: If the employee is still in employment after reaching retirement age, the employee must first choose whether pension savings are to continue (if possible), or whether the pension contribution is to be paid on an ongoing basis as an allowance not giving entitlement to holiday. The insurance coverage ceases when the employee reaches retirement age. If the employee does not make a choice, the enterprise continues to pay into the pension scheme. Employees who have reached the age of 60 and are not already covered by a pension scheme will not be enrolled in an occupational pension ...
Sample 1

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