Senior scheme Sample Clauses

Senior scheme. In connection with a senior scheme, it may be agreed to convert the pension contribution into pay, cf. clause 4 (8).

Senior scheme. The employee may join a senior scheme starting five years before the current retirement age for the employee. As part of the senior scheme, the employee may choose to use payments into the Optional Pay Account to finance senior leave. If the employee wants to take further senior days off, he or she can do so by converting current pension contributions, cf. clause 34. The converted pension contribution is also deposited in the employee's Optional Pay Account. The employee and the employer may agree that the employee, starting five years before the senior scheme can be initiated, sets aside the value of non-taken holiday days, cf. the Collective Agreement of Industry, Clause 18 (2), and accumulates this. This value may be paid out as additional senior leave. According to this provision, the number of senior days off that can be taken may, as a maximum, correspond to the amount set aside, cf. the payment below. When an employee takes senior days off, the Optional Pay Account is reduced by an amount corresponding to pay during sickness. Unless otherwise agreed, the employee must, by 1 August (in 2020: 1 April), notify the company in writing of whether the employee wishes to be included in a senior scheme with senior leave in the coming holiday period, and if so, how much of the pension contribution the employee wishes to convert to pay. In addition, the employee must report how many senior days off the employee wishes to take in the coming holiday period. This choice is binding for the employee and will continue in the following holiday periods. However, the employee may each year, before 1 August (in 2020: 1 April), notify the employer whether he or she wishes to make changes for the coming holiday period. For 2020, the choice applies to the period May 1, 2020 – August 31, 2021. In the first year of the senior scheme, the conversion starts from the pay period in which the employee is five years from the current retirement age. Unless otherwise agreed, the scheduling of senior days off follows the same rules that apply to the scheduling of holiday days, cf. clause 18 (2). Alternatively, instead of senior days off, employee and employer may agree on worktime reduction, for example as longer continuous work-free periods or a fixed reduction in the number of weekly working hours. In the event of an agreement on fixed reduction in the weekly working hours, the converted pension contribution can be paid continuously as a supplement to the wage. The conversion does ...

Senior scheme. The employee may join a senior scheme starting five years before the current retirement age for the employee. The senior scheme can be financed as follows:

Senior scheme. The employee and the company can agree on a senior scheme from 5 years before the current state pension age for the employee. In a senior scheme, the employee's working hours are reduced by having senior rest days. The employee can take a maximum of 32 senior rest days per calendar year. The parties themselves determine the specific design of the senior scheme on the basis of the individual employee's wishes and the company's operational needs. In the senior scheme, the employee can choose to use the payment to the free choice ac- count to finance senior rest days. If the employee wants additional senior rest days, this can be done by converting current pension contributions. The remaining contribution to the pension scheme must continue to be able to cover costs for the insurance scheme and ad- ministration, etc. The converted pension contribution does not entitled the employee to ad- ditional holiday pay. The amount is deposited in the employee's free choice account. It is not possible for the employee to use own funds for senior rest days. The employee and the company can agree that the employee can save the value of un- paid special holidays from 5 years before the senior scheme starts. The value of these is deposited in the free choice account and can be paid out in connection with the holding of senior rest days. A maximum of as many senior rest days can be taken as special holiday days have been saved. Senior rest days are taken without pay, as an amount corresponding to the employee's usual salary is paid from the free choice account. Unless otherwise agreed, the employee must notify the company in writing no later than 1 December of whether the employee wishes to be part of a senior scheme with senior rest days in the coming year, and if so, how large a share of the pension contribution the em- ployee wishes to convert to senior rest days. Furthermore, the employee must give notice of how many senior rest days the employee wants to take in the coming year. This choice is binding on the employee and will continue in the following calendar years. However, each year before 1 December, the employee can notify the company if changes are de- sired for the coming calendar year. In the first year of the senior scheme, the conversion takes place from the wage period in which the employee is 5 years from the state pension age applicable at any time. The placement of senior rest days takes place, unless otherwise agreed, according to the same rules that appl...