contribution holiday definition

contribution holiday means a period when an employer is not required to make contributions into a scheme fund;
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contribution holiday means a period agreed with the Company during which Regular Contributions are suspended but the Contract remains in force.
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contribution holiday means the full or partial reduction of the contributions normally paid by both the Members who are Academic Employees and the University into the Fund in accordance with the Funding Policy, where such reduction is required under the Income Tax Act.
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Examples of contribution holiday in a sentence

  • If you resume paying the Regular Contribution and Additional Regular Contributions, the Contribution Holiday status of the Plan will cease and the Paid-Up Charge will stop.

  • Contribution Holiday means the period during which you temporarily stop paying the Regular Contribution or any Additional Regular Contribution after the ICP.

  • If the Regular Contributions are not recommenced after the end of Contribution Holiday period then the Plan will be dealt with according to Clauses 1.9.4.

  • The Company will only permit a Contribution Holiday subject to there being a maximum of 36 months’ of missed Regular Contributions in any given 15 year period.

  • The Contribution Holiday will be granted if the value of the PIA is deemed, at the Operators discretion, to be sufficient to fund the estimated cost of Protection Benefits and other charges during the Contribution Holiday.

  • Xxxx Xxxxxx Director Human Resources Pension Contribution Holiday January 1, 2005 For the duration of this Agreement, it is understood that the Company will not seek a contribution holiday with respect to pension contributions made on behalf of members of the Steelworkers of America.

  • If Regular Contributions do not re-start after a Contribution Holiday then the Contract will be treated in accordance with Clause 27.

  • The effective date of a Contribution Holiday will be the due date of the first unpaid Regular Contribution.

  • The bonus allocated shall be partially deducted if Contribution Holiday is availed during Plan Term.

  • The reduction in bonus allocation shall be equivalent to the bonus pertaining to the Plan Year during which Contribution Holiday is taken.


More Definitions of contribution holiday

contribution holiday means a period when an employer is not required
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contribution holiday means a period of not less than 3 months and not more than 5 years during which the Employee Member shall not be required to contribute as specified in the Member’s application for a Contribution Holiday provided that a Member may take successive Contribution Holidays.
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contribution holiday. , in relation to a fund, means payment by the employer of less than—
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Related to contribution holiday

  • Accumulated contributions means the sum of all

  • Campaign Contribution means a gift, subscription, loan, advance or deposit of money or other thing of value, including the estimated value of an in-kind contribution, that is made to or received by an applicable public official or any person authorized to raise, collect or expend contributions on that official’s behalf for the purpose of electing the official to either statewide or local office. “Campaign Contribution” includes the payment of a debt incurred in an election campaign, but does not include the value of services provided without compensation or unreimbursed travel or other personal expenses of individuals who volunteer a portion or all of their time on behalf of a candidate or political committee, nor does it include the administrative or solicitation expenses of a political committee that are paid by an organization that sponsors the committee.

  • statutory parental bereavement pay means a payment to which a person is entitled in accordance with section 171ZZ6 of the Social Security Contribution and Benefits Act 1992;

  • Contribution Rate means, in a reserve study as described in RCW 64.34.380, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • Pay Day means a specific day or date established by the employer on which wages are paid for hours worked during a pay period.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.