TERMIUM Plus®

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CONTRACTED OUT SCHEME [1 record]

Record 1 1985-08-29

English

Subject field(s)
  • Employment Benefits
CONT

A contracted-out scheme will have to provide a pension of at least one-eightieth of final salary per year of service, subject to a minimum of a "guaranteed minimum pension" equal, at the date of retirement, to the additional component of the state pension, and the state pension which would otherwise be payable will be reduced by the amount of this guaranteed minimum pension.

Key term(s)
  • contracted out plan

French

Domaine(s)
  • Avantages sociaux
CONT

Les régimes de substitution devront servir une pension correspondant à au moins 1,25 pour cent de la rémunération finale pour chaque année de service, avec un montant minimal - la «pension minimale garantie» - qui devra être égal, au moment de la retraite, à l'élément additionnel du régime public.

Key term(s)
  • régime de retraite de substitution

Spanish

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