Statutory Pension definition

Statutory Pension means a pension payable under rule D2 in connection with the Queensland Act and/or the Pensions Act and includes any amount payable as an addition to the Statutory Pension.
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Examples of Statutory Pension in a sentence

  • It is a defined benefit (DB) system based on a person’s contribution years and earnings, and it is known as the Statutory Pension (Pension Légale).

  • First, I use German Statutory Pension Insurance administrative records, which document all pension-relevant events (incl.

  • It would not constitute unlawful discrimination in national law if an employer provides benefits that are limited to those employees who are married because cohabitation has limited legal consequences regulated by specific laws (Family Act, Act on Statutory Pension Insurance, Health Care Act etc.).

  • All such benefits must be calculated based on the rules that were in effect at the time of the calculation under the PMA and the regulations thereunder or the Act and the Statutory Pension Plan Rules.

  • In the following years the system emerged and provided medical rehabilitation, old-age, disability and survivor benefits.In 1957 – after several shocks due to World War I, a hyperinflation in the beginning 1920’s and World War II – a major pension reform established the principles of the actual German Statutory Pension System.4 The funding of the GRV was gradually converted to a PAYG scheme and the remaining capital stock of the former funded system was spent by 1967 (B¨orsch-Supan, 2000, p.

  • The most recurrent health disorder is the low back pain, which in 2013 accounted for 31.5% of all medical and other rehabilitative services provided by the German Statutory Pension Fund (German Statutory Pension Insurance 2013).

  • All benefits payable under the PMA and the regulations thereunder or the Act and the Statutory Pension Plan Rules continue to be payable under this Agreement and the Pension Plan Rules.

  • For greater certainty, the continuation of the Pension Plan and the Pension Fund under this Agreement and the Pension Plan Rules shall not cause any recalculation of the benefits previously payable under the PMA and the regulations thereunder or the Act and the Statutory Pension Plan Rules.

  • In Germany, principals who are unsure of an individual’s status may apply to the Federal Statutory Pension Insurance Administration (Deutsche Rentenversicherung Bund - DRV) for status determination (Statusverfahren).

  • In particular, the financial sustainability of the German Statutory Pension System (“Gesetzliche Rentenversicherung”, GRV) is challenged as its primary pay-as-you-go (PAYG) financing scheme puts a major burden on the working population.

Related to Statutory Pension

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Foreign Pension Plan means any plan, fund (including, without limitation, any superannuation fund) or other similar program established or maintained outside the United States of America by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • personal pension scheme means a personal pension scheme which--

  • Defined Contribution Dollar Limitation means, for any Limitation Year, $46,000, as adjusted for increases in the cost-of-living under Code section 415(d). If a short Limitation Year is created because of a Plan amendment changing the Limitation Year to a different 12-consecutive month period, the Defined Contribution Dollar Limitation for the short Limitation Year will not exceed the amount determined in the preceding sentence multiplied by a fraction, the numerator of which is the number of months in the short Limitation Year and the denominator of which is 12.

  • Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which Borrower or any member of the Controlled Group may have any liability.

  • Canadian Pension Plans means each pension plan required to be registered under Canadian federal or provincial law that is maintained or contributed to by a Credit Party for its employees or former employees, but does not include the Canada Pension Plan or the Quebec Pension Plan as maintained by the Government of Canada or the Province of Quebec, respectively.

  • Lifetime Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached.

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Canadian Pension Plan means a pension plan or plan that is subject to applicable pension benefits legislation in any jurisdiction of Canada and that is organized and administered to provide pensions, pension benefits or retirement benefits for employees and former employees of any Loan Party or any Subsidiary thereof.

  • Foreign Benefit Law means any applicable statute, law, ordinance, code, rule, regulation, order or decree of any foreign nation or any province, state, territory, protectorate or other political subdivision thereof regulating, relating to, or imposing liability or standards of conduct concerning, any Employee Benefit Plan.

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Actuarial equivalent means a benefit of equal value when

  • Pension Benefits Act means The Pension Benefits Act of Ontario and regulations thereunder as amended from time to time.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.