Examples of using Minimum benefit in English and their translations into Arabic
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The net minimum benefits are differentiated by household type.
Taking as the basis the judges 'current net base salary of $170,080, the minimum benefit payable after nine years of service is $85,040.
In 1998, the minimum benefit was Fmk 60 and it is paid for six days per week.
In a separate sessional note to the Board on Small Pensions,FAFICS supported the approach of the secretariat in the development of the minimum benefit alternative.
Thus, the proposed minimum benefit was set at the equivalent of one month's salary, while the maximum was set at four months' salary.
The Secretary/CEO also noted that the Board might wish to request that a further study be completed on the issue of theoverlap in benefit amounts between the small pension and minimum benefit provisions.
Initially, the minimum benefit had been close to the minimum wage, but in 1993 it had been set at 8,600 forint.
The second method relies on a summarized demographic," actuarial valuation, not considering any future member",or equivalent information in terms of" minimum benefit liability, result with pension adjustment"; this last item, however.
The total replacement ratio for those receiving the minimum benefit adjustment ranges from just above 20 per cent to above 40 per cent of final pensionable remuneration.
When analysed in terms of income replacement ratios in local currency, the benefits provided by the Fund,taking into account both the small pension and the minimum benefit provisions, appeared to be generally reasonable.
Unemployment insurance does not provide for any minimum benefit when it comes to unemployment benefits and relief payments.
The Board was informed that approximately 1 to 3 per cent of current retirees were receiving a benefit increased by the small pension provisions, while about 7 to 9 percent were receiving a benefit increased by the minimum benefit provisions.
(b) Streamline the entire minimum benefit/small pension provisions in order to coordinate benefit amounts, eliminate the overlap of provisions and simplify communication and administration(transparency);
In the remaining two-track cases the amount paid was the local track amount(i.e.,the local currency track was higher than the dollar track) or a minimum benefit of 80 per cent of the dollar track benefit(to 77 beneficiaries).
The system of sickness benefit was changed in 2002 so thatthe earlier minimum benefit based on the assessment of need was replaced by a minimum benefit that is always paid, provided that the sickness has lasted at least 55 days without interruptions.
In 2012 and 2013, the Fund secretariat presented to the Board the results of studies it had completed regarding thelevel of benefits provided through both the small pension and minimum benefit provisions, as well as consideration of possible alternatives for simplification.
It was alsonoted that that the alternatives for the redesign of the small pension and minimum benefit provisions are anticipated to be presented to the Board at its session in 2015 for suggested implementation after 2016, as the General Assembly would only be considering the budget items during its session in 2015.
The Board of Auditors recommended in paragraph 42 of its previous reportc that UNJSPF disclose in its report both" open group" and" actuarial evaluation, not considering any future member",or equivalent information in terms of" minimum benefit liability, result with pension adjustment".
It was further noted that, in terms of replacement ratios,after 10 years of contributory service the minimum benefit provisions contained in article 28 almost double the regular benefit payable from the Fund for all of the locations considered in the study, except Chile, France, Switzerland and the United States.
The Board had also considered a report on small pensions and decided that the table of small pension threshold amounts should be adjusted by 10 per cent upwards, on a one-time basis, effective 1 April 2016, as an interim measure pending a more permanentsolution to the question of the linkage between the small pension and minimum benefit provisions.
FAFICS noted that if the United States consumer price index movements from1992 to 2012 had been applied to the small pension minimum benefit level of $6,500, theminimum threshold for a small pension adjustment would have increased to $10,961.
In considering alternative designs for the minimum benefit and small pension provisions, the secretary/CEO noted in 2013 to the Board that, owing to the uniqueness of the current design, it was not possible to develop an exact replication of the current benefit levels when considering the goal of simplification.
For participants with 15 years of contributory service, there was an almost equal distribution ofbenefits affected by the small pension adjustment or by the minimum benefit provisions at the various locations studied, with one third not receiving any benefit increase from those provisions.
The Secretary/CEO noted that neither the small pension adjustment nor the minimum benefit provisions provided a benefit for staff with longer service and, furthermore, the small pension adjustment was not taken into account when determining the local currency track benefit under the two-track provisions of the pension adjustment system.
Husbands and wives were taxed separately and everyone over the age of 16 was entitled to a personal deduction, of which up to 80 per cent could be transferred from a non-working to a working spouse, thereby lowering the tax burden on the family. Unemployment benefits were calculated on an individual basis,without regard to the income of the spouse, although the minimum benefit was higher for married persons and a fixed sum was added for each child.
This would be an interim measure pending a more permanentsolution to the question of the linkage between the small pension and minimum benefit provisions, with alternatives being presented to the Board at its session in 2015 for its consideration and information, noting that the decision will be taken in 2016, when the results of the next actuarial valuation will be available;
From the point of view of sickness and accident insurance law it must be added that in accordance with the system laid down in Austrian social insurance law a mandatory insurance under the statutory health and accidence insurance system is generally linked to an Austrian income from gainful employment and/or some related payment and/or benefit(such as unemployment benefit or pension payment);individuals who receive payments under the needs-based minimum benefit system are also covered by the statutory health insurance system.
The second phase of the study described the overlap between thebenefits provided under the small pension provisions and the minimum benefit provisions under article 28 of the Regulations, with the minimum benefit currently $10,028.64 annually with a maximum of 10 years of contributory service, while the threshold for the small pension adjustment is $6,500 with 15 years of contributory service.
The Board took note of the report and requested the Secretary/ CEO to further study the issue of theoverlap in benefit amounts between the small pension and minimum benefit provisions and all other provisions providing a minimum level of benefit, with a view to developing draft provisions that would coordinate and simplify the minimum benefits payable from the Fund, following the modalities and principles identified in the note by the Secretary/ CEO.
For example, to ensure that no one who has worked for 30 or more years will live in poverty in old age,Social Security needs a higher minimum benefit for lower-income workers, with more affluent seniors seeing less growth in benefits over time. Adopting the chained consumer-price index for federal benefit calculations would ensure that benefits more accurately represent inflation, while slowing the rate of benefit growth for individuals.