Pension and Life Cover Sample Clauses

Pension and Life Cover. 15.1. The Executive is entitled to join or remain a member of The Royal Bank of Scotland Group Retirement Savings Plan (the “Plan”). Further details are provided in the Retirement Savings Plan guidebook, which is available from the Company on request. 15.2. The Plan is not contracted out of the State Second Pension and no Contracting Out certificate is required. 15.3. The Executive will be provided with Life Cover as a core benefit under the Company’s benefits scheme. The cost of this benefit will be deducted from the Executive’s ValueAccount.
Sample 1
Pension and Life Cover. 14.1. The Executive will be enrolled into The Royal Bank of Scotland Group Retirement Savings Plan (the “RSP”) or such other pension arrangement as the Group and/or the Company decides. Contributions will be deducted from the Executive’s ValueAccount at a default rate, which the Executive will be informed of separately. The Executive will be able to amend the contribution rate or opt out from contributions altogether within 90 days of joining the Group and periodically thereafter. If the Executive opts out or contributes less than the minimum rate set out in legislation, the Executive will be re-enrolled as required by law at a contribution rate which will be confirmed at the time. 14.2. The RSP is not contracted out of the State Second Pension and no contracting out certificate is required. Further details about the RSP are available from the Company on request. 14.3. The Executive will be provided with life cover as a core benefit under the Company’s benefits scheme. The cost of this benefit will be deducted from the Executive’s ValueAccount.
Sample 1Sample 2
Pension and Life Cover. 16.1. The Executive shall remain a member of The Royal Bank of Scotland Group Pension Fund in respect of the Executive’s pensionable service up to 5 April 2006. The Executive’s benefits from the Fund will be based upon Final Pensionable Salary, as defined in the rules of that Fund, at the date of leaving service, retiring or dying. An allowance in lieu of continued accrual of pensionable service after 5 April 2006 is included in the Executive’s ValueAccount. 16.2. To the extent that any salary related lump-sum payment made by the Group Fund in respect of the death of the Executive while in service before the Normal Pension Date as defined in the Group Fund is less than four times the Executive’s Salary Element by reason only of Section 590C of the Income and Corporation Taxes Act 1988 (which deals with the Pension Cap and continues to apply to the Fund by reason of the Registered Pension Schemes (Modification of the Rules of Existing Schemes) Regulations 2006 or any replacement of this cap imposed under legislation or the rules of the Fund or otherwise), the Company shall ensure that a payment is made equal to the amount of the difference. This benefit will be subject to any restrictions imposed by an insurance company with which it is insured.
Sample 1
Pension and Life Cover. 13.1. The Executive will continue to be a member of The Royal Bank of Scotland Group Retirement Savings Plan (the “RSP”) or such other pension arrangement as the Group and/or the Company decides. The Executive will be able to amend the contribution rate at any time through the Company’s flexible benefits scheme. 13.2. The RSP is not contracted out of the State Second Pension and no contracting out certificate is required. Further details about the RSP are available from the Company on request. 13.3. The Executive will be provided with life cover as a core benefit under the Company’s flexible benefits scheme. The cost of this benefit will be deducted from the Executive’s ValueAccount.
Sample 1

Related to Pension and Life Cover

  • Health and Life Insurance In the event Employee’s employment is terminated hereunder, the Company shall provide the following health and life insurance benefits: (a) Upon Employee’s termination of employment under this Agreement other than upon Employee’s termination for Cause or upon Employee’s death, the Company shall be responsible for a one-year period following Employee’s Termination Date, the scheduled premium payments (on or before their due dates) on any universal life insurance policy covering Employee’s life which is in force immediately prior to the Termination Date; provided, however, that the Company shall be obligated to pay any such premiums only to the extent that, and on the same basis as, payments are made by the Company on the universal life insurance policies covering officers of the Company with same or similar coverage and further provided that during the period of six months immediately following the Employee’s Termination Date, the Employee shall be obligated to pay the Company the full cost for any such premium payments, and the Company shall reimburse the Employee for any such payments on the first business day that is more than six months after the Employee’s Termination Date, together with interest on such amount from the Termination Date through the date of payment at the Interest Rate. (b) Upon Employee’s termination of employment under this Agreement other than upon a Change of Control (which shall be governed by the COC Severance Plan), Employee’s termination for Cause, or upon Employee’s death, the Company shall, at its expense, provide such medical and dental coverage as in effect immediately prior to the Termination Date for Employee and Employee’s then covered dependents until the end of the period designated for payments to be made hereunder. Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (c) In the event of Employee’s death during the Term of Employment for a twelve-month period after his death the Company shall make available at its expense medical and dental insurance covering Employee’s spouse and his dependents (collectively, “Employee’s Beneficiaries”) who would have been covered (if the Term of Employment had continued) by the Company’s medical and dental insurance policies as then in effect, and (ii) thereafter for an additional six-month period, such medical and dental insurance in effect from time to time shall be provided to Employee’s Beneficiaries, with Employee’s Beneficiaries (or estate if applicable) to reimburse the Company for the cost of comparable coverage under the provisions of this clause (ii), unless otherwise prohibited by applicable law Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (d) Any taxable welfare benefits provided pursuant to this Section 13 that are not “disability pay” or “death benefits” within the meaning of Treasury Regulation Section 1.409A-1(a)(5) (collectively, the “Applicable Benefits”) shall be subject to the following requirements in order to comply with Section 409A of the Code. The amount of any Applicable Benefit provided during one taxable year shall not affect the amount of the Applicable Benefit provided in any other taxable year, except that with respect to any Applicable Benefit that consists of the reimbursement of expenses referred to in Section 105(b) of the Code, a limitation may be imposed on the amount of such reimbursements over some or all of the applicable severance period, as described in Treasury Regulation Section 1.409A-3(i)(iv)(B). To the extent that any Applicable Benefit consists of the reimbursement of eligible expenses, such reimbursement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. No Applicable Benefit may be liquidated or exchanged for another benefit.

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. b. Employees who have Board-provided term life insurance shall have a thirty-one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c. The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • ’ Compensation and Employer’s Liability Coverage The Grantee shall provide workers’ compensation, in accordance with Chapter 440, F.S. and employer liability coverage with minimum limits of $100,000 per accident, $100,000 per person, and $500,000 policy aggregate. Such policies shall cover all employees engaged in any work under the Grant.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Workers’ Compensation and Employer’s Liability Coverage The insurer shall agree to waive all rights of subrogation against the City, its directors, officials, officers, employees, agents and volunteers for losses paid under the terms of the insurance policy which arise from work performed by the Consultant.

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."