Pensionable Earnings Clause Samples

The 'Pensionable Earnings' clause defines which portions of an employee's compensation are considered when calculating contributions to a pension plan. Typically, this includes regular salary and wages, but may exclude bonuses, overtime, or other forms of irregular compensation, depending on the specific terms of the plan. By clearly specifying what earnings are pensionable, the clause ensures both employer and employee understand how pension contributions are determined, thereby preventing disputes and ensuring compliance with pension scheme rules.
Pensionable Earnings. Pensionable earnings include base salary, stipends, and any variable pay paid by or through the Employer.
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Pensionable Earnings. The pensionable earnings are an important starting point in determining the premiums. The pensionable earnings are the pensionable salary minus the pension offset. We determine the pensionable earnings monthly on the first day of the month. Calculation example 1 Let’s assume the participant has a full-time annual salary of € 50,000 gross (this is his pensionable salary plus 8% holiday allowance). And the pension offset is (for example) € 13,500.00. If your pensionable salary changes, we will determine the pensionable earnings again. We do this on the date when the pensionable salary changes.
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Pensionable Earnings. The pensionable earnings are an important starting point in determining the contributions. The pensionable earnings are the pensionable salary minus the pension offset. We determine the pensionable earnings on 1 January of each year. Example calculation 1 Let’s assume the participant has a full-time annual salary of € 180,000.00 gross (this is his/her pensionable salary plus 8% holiday allowance). And the pension offset is (for example) € 130,000.00. 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. If the pensionable earnings become (temporarily) zero or lower during participation? Then your employee remains a participant. The participant will then (temporarily) no longer pay contributions for Net Pension. This also applies to the net partner’s and orphan’s pension. As long as the pensionable earnings remain zero or lower, we do not charge any administration costs. If the pensionable earnings are greater than zero again, we will resume the contributions for the Net Pension. This also applies to the net partner’s and orphan’s pension. We base the resume on the last choice of the participant known to us.
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Pensionable Earnings. The pensionable earnings are an important starting point in determining the premiums. The pensionable earnings are the pensionable salary minus the pension offset. A participant earns € 2,000.00 gross per month. Twelve months and 8% holiday pay count towards his pensionable salary. His pensionable salary is € 2,000.00 × 12 + 8% = € 25,920.00. The pension offset is € 15,000.00
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Pensionable Earnings. The member’s basic hourly rate of earnings up to a maximum of 40 hours per week (or 42 hours for employees working on modified work week) or 2080 hours per year for services rendered to the company, and excluding overtime, shift premium.
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Pensionable Earnings. The pensionable earnings are an important starting point in determining the contributions. The pensionable salary minus the pension offset qualifies as the pensionable earnings for the purpose of determining the defined contribution. The pensionable salary minus the pension offset qualifies as the pensionable earnings for the purpose of determining the (voluntary supplementary) partner’s and orphan’s pension. If this pension scheme is a so-called top-up scheme (excedentregeling), then the pensionable salary minus the pension offset qualifies as the pensionable earnings for the purpose of determining the (voluntary supplementary) partner’s and orphan’s pension. This also applies to the example calculations in this Execution Agreement. Whether the pension scheme is a top-up scheme is stated in the ‘Key Data Pensioenabonnement’ annex. Let’s assume the participant has a full-time annual salary of € 54,000.00 gross (this is his/her pensionable salary plus 8% holiday allowance). And the pension offset is (for example) € 17,500.00. We determine the pensionable earnings monthly on the first day of the month. Example calculation 1 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.
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Pensionable Earnings. Pensionable income is the sum of the salary, salary supplement and remuneration supplement. The maximum pensionable income is EUR 114,866 with effect from 1 January 2022 and EUR 128,810 with effect from 1 January 2023. That is the amount defined in the tax regulations as the maximum amount in respect of which pension may be accrued without incurring tax liability. If the amount defined in the tax rules changes, the pension scheme's maximum pensionable income will be adjusted accordingly. The amount is adjusted pro rata if your basic working hours amount to less than 36 hours per week. The pensionable salary is the same as the pensionable income, to the extent that this does not exceed the maximum pensionable income. The statutory offset is set at EUR 14,802 from 1 January 2022 and EUR 16,322 from 1 January 2023. The statutory offset is defined in the tax rules as the lower limit for an accrual rate of 1.875%. If this amount changes, the statutory offset will also be adjusted in the pension scheme. The amount is adjusted pro rata if your basic working hours amount to less than 36 hours per week. Your pensionable earnings are the difference between your pensionable salary and the statutory offset, and are determined on a monthly basis.
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Pensionable Earnings. The pensionable earnings are an important starting point in determining the contributions. The pensionable earnings are the pensionable salary minus the pension offset. We determine the pensionable earnings monthly on the first day of the month. Example calculation 1 Let’s assume the participant has a full-time annual salary of € 54,000.00 gross (this is his/her pensionable salary plus 8% holiday allowance). And the pension offset is (for example) € 17,500.00. 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.
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Pensionable Earnings. In the event that the member’s pensionable earnings used to calculate his average monthly pensionable earnings do not reflect a normal schedule of hours due to accident or sickness for which he is or would be entitled to disability benefits under the Company plans, the member’s pensionable earnings for these periods of absence will be adjusted based on the greater of: a) the regular hourly rate of the employee in effect at the onset of the disability, as described in the applicable collective agreement; and b) the base rate of the mill.
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Related to Pensionable Earnings

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Vacation Earnings for Partial Years ‌ (a) During the first partial year of service a new employee will earn vacation at the rate of one and one-quarter days for each month for which they earn 10 days' pay. (b) During the first and subsequent vacation years an employee will earn one-twelfth of the annual entitlement for each month in which the employee has received at least 10 days' pay at straight-time rates. Where an employee has taken more vacation than earned, the unearned portion taken shall be charged against future earned credits or recovered upon termination whichever occurs first.

  • Pension Contributions While on leave pursuant to Section B. of this Article, an employee may make contributions to the appropriate State pension system and will receive service credit for the time the employee is on unpaid leave.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).