Old Age Pension Sample Clauses

Old Age Pension. (1) Subject to the provisions of Article 16, where a person submits a claim to the receive an old age pension on virtue of insurance under the legislation of both Contracting Parties, his claim shall be determined in accordance with the provisions of the succeeding paragraphs of this Article. (2) The social insurance authority of each Party shall determine, in accordance with the legislation of that Party, whether the person satisfies the conditions for receiving an old age pension under that legislation, and for this purpose shall take account, subject to the provisions of Article 25 of the present Convention, of all the insurance periods, contribution periods and equivalent periods completed by him under the legislation of the two Parties as if they had been completed under its own national legislation. (3) Where the right to receive a pension is established in accordance with the provisions of paragraph (2) of this Article, the social insurance authority of each Party shall calculate- (a) the pension which would have been due to the person under its own national legislation if all the insurance periods, contribution periods and equivalent periods completed by him under the legislation of both Parties, calculated in accordance with the provisions of Article 25, had been completed under its own national legislation, and (b) that part of such pension which bears the same relation to the whole as the total of all the contribution periods completed by the person under its own national legislation bears to the total of all the contribution periods completed by him under the legislation of both Parties. (4) Where the total of all the contribution periods completed by a person under the legislation of one (or the other) Party is less than six months, no pension shall be paid under the legislation of that Party. (5) For the purpose of applying this Article, an insurance period, contribution period or equivalent period completed by a person shall be deemed to include an insurance period, contribution period or equivalent period completed by the person’s husband in those cases where the person concerned is a woman claiming an old age pension by virtue of her husband’s insurance or a woman claiming an old-age pension by virtue of her own insurance who has chosen to have her husband’s contributions taken into acount.
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Old Age Pension minimum provision which is regulated in Pension Regulations A and the articles of the Pension Fund for Architectural Firms (XXXX).
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Old Age Pension. The old age pension is based on an indexed average salary system. The accrual per year amounts to 1.75% of the pensionable salary for the year in question. The pension commences on the first day of the month in which the member reaches the age of 68. The partner pension is 60% of the accrued old age pension. This pension commences on the first day of the month in which the (former) member dies. A fictitious partner pension is also accrued for single persons. The orphans’ pension is a maximum of 14% of the total accrued old age pension for each child. For full orphans, that percentage is doubled. The orphans’ pensions for all children jointly may not, however, amount to more than 70% of the accrued old age pension. The orphans’ pension will be payable until the first day of the month following the moment the child no longer meets the following criteria:
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Old Age Pension. The retirement pension is based on an individual defined contribution scheme with a graduated scale showing the minimum premium contribution for each cohort age. This minimum premium contribution is based on a 1.85% DC scale with a development of 1.75%. Cohort age Available premium 15-19 12,86% 20-24 13,72% 25-29 15,06% 30-34 16,55% 35-39 18,18% 40-44 19,99% 45-49 22,03% 50-54 24,32% 55-59 27,01% 60-64 30,29% 65-68 33,52% Upon the death of the participant before the retirement date, the partner’s pension is insured on a risk basis and is equal to:
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Old Age Pension. In line with the Law, Telenor may decide to cancel Employment Contract and terminate employment of an Employee with 65 years of life and minimum 15 years of insurance. This shall apply to all except cases when Telenor and Employee agree otherwise.
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Old Age Pension. The claims to an old age pension obtained with the Merck KGaA Company are transferred to the Company which shall continue them in accordance with the rules and regulations of the Merck XXxX Xxxxxxx.
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Old Age Pension. A person can qualify for a Dutch old-age pension with as little as one year of Dutch coverage. Therefore, work credits under the U.S. system will not be counted when determining eligibility for the old-age pension. The agreement does permit certain people to qualify for a higher benefit amount based on special credits for periods they resided in the Netherlands before 1957. To qualify for these special pre-1957 credits, you must have earned some Dutch social security coverage after 1956 and meet certain eligibility requirements.
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Old Age Pension. 1. The Employee shall be entitled to an old age pension provided that all benefit preconditions are satisfied and the Employee leaves the Company, 1.1 after reaching the age of 65 (standard age limit), 1.2 before reaching the age of 65 when claiming an early old age pension from the statutory pension insurance as full pension, 1.3 if the Employee, if insured in the statutory pension insurance, would be entitled to an early old age pension from the statutory pension insurance as full pension, and said entitlement does not exist only because of the missing insurance attribute. 2. The amount of the old age pension to which the Employee is entitled after reaching the age of 65 shall follow from the acquired pension unit total. When claiming the old age pension before reaching the age of 65 (early old age pension) an actuarial reduction shall be applied to the acquired pension unit total for the entire pension term, in the amount of 0.5% for each month that is missing to the age of 65. 3. The payment of the old age pension shall begin in the calendar month for which the Employee does not receive any salary payments or salary compensation benefits after the occurrence of the insured event and after the employment with the Company has ended. Said benefits shall include not only employer benefits but also benefits from other carriers or institutions, to the financing of which the company has contributed. The last payment of the old age pension shall be made in the month in which the beneficiary dies.
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Old Age Pension. (AOW) additional insurance
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Related to Old Age Pension

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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