Vested Rights. (1) Both the University's contributions and the staff members' contributions shall become vested immediately upon payment of the same. (2) If staff members have acquired vested rights to future pension payments they will be entitled to the vested amount if the employment relationship is terminated before the benefit case. The vested amount shall be 100% of the premium reserve allocated to the beneficiary as at the relevant termination date. Beneficiaries may dispose of the vested amount according to Section 5 paras 2 and 3 of the Austrian Company Pensions Act [Betriebspensionsgesetz /BPG].
Appears in 9 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement for University Staff
