Recognition Bonds definition
Recognition Bonds means, bonds issued by the Government recognizing the Accrued Pension Rights of Government Employees.
Recognition Bonds means pension credits owed by the Recipient to individuals who accumulated such credits prior to the establishment of the new pension scheme under the Recipient’s Pension Act. Such Recognition Bonds carry a face value and an interest rate.
Examples of Recognition Bonds in a sentence
Payout of Pension Liabilities Supporting the Recipient’s pension scheme through the provision of Pension Payouts to public sector employees retiring during the period of project implementation, who have been credited with Recognition Bonds in accordance with the laws of the Recipient.