Keywords
Summary

Keywords

OFFICIALS - PENSIONS - PENSION RIGHTS ACQUIRED BEFORE ENTRY INTO THE SERVICE OF THE COMMUNITIES - TRANSFER TO COMMUNITY SYSTEM - DETAILED RULES - ' ' ACTUARIAL EQUIVALENT ' ' - ' ' SUMS REPAID ' ' - CONCEPTS

( STAFF REGULATIONS OF OFFICIALS , ANNEX VIII , ART . 11(2 ))

Summary

THE PURPOSE OF CALCULATING THE ACTUARIAL EQUIVALENT IN PURSUANCE OF ARTICLE 11 ( 2 ) OF ANNEX VIII TO THE STAFF REGULATIONS OF OFFICIALS FOR THE TRANSFER OF PENSION RIGHTS ACQUIRED UNDER NATIONAL SCHEMES IS TO CAPITALIZE THE VALUE OF A FUTURE CONTINGENT PERIODIC BENEFIT . THE CALCULATION IS THEREFORE BASED ON A CALCULATION OF THE CAPITAL CORRESPONDING TO THE PENSION TO WHICH THE PERSON CONCERNED WILL BE ENTITLED AT NATIONAL LEVEL BY THE APPLICATION OF A DISCOUNT RATE BY REASON OF THE ANTICIPATED NATURE OF THE PAYMENT AS COMPARED WITH THE DUE DATE , TOGETHER WITH A REDUCTION COEFFICIENT PROPORTIONATE TO THE RISK OF THE DEATH OF THE RECIPIENT BEFORE THE DUE DATE , DETERMINED AS A FUNCTION OF THE AGE OF THE INSURED AND OF DEATH RATES , BOTH FACTORS BEING CALCULATED ON THE BASIS OF THE TIME DUE TO ELAPSE BETWEEN THE DATE OF THE AWARD OF THE ACTUARIAL EQUIVALENT AND THAT OF THE GRANT OF THE PENSION .

THE CALCULATION OF THE SUMS REPAID ON THE OTHER HAND MAY BE EFFECTED IN CONTRIBUTORY INSURANCE SCHEMES BY ADDING UP THE CONTRIBUTIONS PAID BY THE INSURED PERSON , TOGETHER , WHERE APPROPRIATE , WITH THOSE PAID BY HIS EMPLOYER ; INTEREST MAY BE ADDED TO THESE CONTRIBUTIONS .