Common use of Pension and Retirement Clause in Contracts

Pension and Retirement. 4.17.1 Mandatory membership and participation ▪ Employers are required to join bpfBOUW (the Dutch construction industry pension fund foundation). Employees are required to participate in the pension scheme that bpfBOUW administers for the construction & infrastructure sector. ▪ The bpfBOUW regulations state which rights and obligations the employer and the employee have in this regard and specifies the contributions as well. 4.17.2 Components of the pension scheme ▪ This bpfBOUW pension scheme comprises the following components: - average salary scheme; - incapacity pension.

Pension and Retirement. 4.17.1 Mandatory membership and participation ▪ Employers are required to join bpfBOUW (the Dutch construction industry pension fund foundation). Employees are required to participate in the pension scheme that bpfBOUW administers for the construction & infrastructure sector. ▪ The bpfBOUW regulations state which rights and obligations the employer and the employee have in this regard and specifies the contributions as well. 4.17.2 Components of the pension scheme ▪ This bpfBOUW pension scheme comprises the following components: - average salary scheme - ‘55min’ supplemental scheme; , and - incapacity pension.