Common use of Personal pension arrangements Clause in Contracts

Personal pension arrangements. An employer who has requested and received permission from the Metalektro Pension Fund to be exempted from the pension scheme made mandatory for employees in the Metalektro is obliged to make arrangements by no later than 1 January 2008 that provide the same conditional additional pension entitlements as those granted to members born between 1950 and 1972 pursuant to Article 1.1.33 ‘Transitional scheme for PME Voluntary Early Retirement, Pre-pension and Life-Course Savings (VPL) scheme’ of the Metalektro Pension Fund pension scheme dated 1 January 2015, corresponding to the scheme the parties to this collective agreement have set out in the ‘Agreement on Voluntary Early Retirement, Pre-pension and Life-Course Savings (VPL) with regard to the Metalektro. The employer must subsequently continuously maintain said arrangements. Said arrangements to be made by the employer must also stipulate that, in the event of personal and collective change of employment within the Metalektro, no loss of conditional additional pension entitlements will occur, however only if and insofar as these entitlements have not yet been acquired (prior to retirement), making them unconditional. This transitional scheme can be financed through payment of a yet-to-be-determined contribution. The employee’s part in this contribution will be no more than 50% of the difference between this contribution and the contribution set for Metalektro Pension Fund for the conditional additional pension.

Personal pension arrangements. An employer who has requested and received permission from the Metalektro Pension Fund to be exempted from the pension scheme made mandatory for employees in the Metalektro is obliged to make arrangements by no later than 1 January 2008 that provide the same conditional additional pension entitlements as those granted to members born between 1950 and 1972 pursuant to Article 1.1.33 ‘Transitional scheme for PME Voluntary Early Retirement, Pre-pension and Life-Life- Course Savings (VPL) scheme’ of the Metalektro Pension Fund pension scheme dated 1 January 2015, corresponding to the scheme the parties to this collective agreement have set out in the ‘Agreement on Voluntary Early Retirement, Pre-Pre- pension and Life-Course Savings (VPL) with regard to the Metalektro. The employer must subsequently continuously maintain said arrangements. Said arrangements to be made by the employer must also stipulate that, in the event of personal and collective change of employment within the Metalektro, no loss of conditional additional pension entitlements will occur, however only if and insofar as these entitlements have not yet been acquired (prior to retirement), making them unconditional. This transitional scheme can be financed through payment of a yet-to-be-determined contribution. The employee’s part in this contribution will be no more than 50% of the difference between this contribution and the contribution set for Metalektro Pension Fund for the conditional additional pensionpension as last determined in 2020.