Common use of Transitional Rules Clause in Contracts

Transitional Rules. Prior employment time with the bank/company shall be included as pension-qualifying according to the collective agreement in effect from time to time. 5 § — Coordination with previous pen- sion rights‌ For employees born in 1952 or later‌ Coordination with previous pension rights comprises only defined benefit ac- crued pension according to the pension agreement Bankernas Tjänstepen- sion (BTP). Coordination effected before 1 February 2013 shall still apply, also following new employment. If an employee in employment with another employer has accrued pension rights according to BTP then: • The time of such pension right accrual shall be considered employ- ment time in the present employment • Pension rights accrued shall be included in the pension rights accrued in the current employment. If the employee is comprised by the alternative rules of Section 9 and Section 12 in the pension agreement, then: • The pension-qualifying employment time shall be reduced by the number of months for which the alternative rule has been applied • The pension rights accrued during a time when the alternative rules have been applied shall not be included in the pension rights accrued in the current employment. For employees born in 1951 or earlier‌ Former employment as a salaried employee Pension rights accrued by an employee with another employer according to a retirement scheme equivalent to the pension provisions of this agreement shall be included in the benefits under this agreement. The time during which such pension rights have been accrued shall be included in the employment time with the bank. If there are significant differences between the pension schemes, then the employment time in the prior employment shall be recalculated to take the difference into account. The bank and the employee may in the latter case agree that such recalculation shall not be made. The pension rights accrued by the employee at the same time as this or equivalent pension scheme shall not be coordinated. Former employment as blue-collar employee If an employee during the time 1 January 1979 - 31 December 1995 has xxxx- sitioned from a blue collar position to a salaried employee position, then the employee shall keep all STP time on the condition that this amounts to at least three STP years. Employment time from 1996 with agreement pension SAF - LO shall also be included.