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Auskauf der Rentenkürzung

English translation: buyout of retirement scheme reductions

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Auskauf der Rentenkürzung
English translation:buyout of retirement scheme reductions
Entered by: Alexander Schleber (X)

15:46 May 15, 2006
German to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Social security
German term or phrase: Auskauf der Rentenkürzung
"In jenen Fällen, in denen eine frühere Pensionierung aus Sicht der Arbeitgeberin ausnahmsweise angezeigt ist, kann - soweit gesetzlich bzw. reglementarisch zulässig - für Frauen und Männer ab dem vollendeten 55. Altersjahr eine flexible Pensionierung unter Beteiligung der Arbeitgeberin am Auskauf der Rentenkürzung geprüft werden."

Any suggestions?

TIA
Alexander Schleber (X)
Belgium
Local time: 01:20
(compensation, subsidy)
Explanation:
Not so sure myself how to word it but maybe these links/excerpts will help!

The employer has to compensate the cut in pension

early-retirement subsidy

Early retirement with consent
"Alternatively, you may discuss early retirement with your employer. If your employer consents to allow you to retire early, you will be paid your pension early. If your benefits are subject to an actuarial reduction for early payment your employer can buy this out by payment of the appropriate cost. "
http://www.admin.ox.ac.uk/pensions/retiring.shtml

Found this in dict.cc forum:
In my case I'm not sure if it's "buy out". The sentence is : Dies gilt auch für den Auskauf zusätzlicher Rentenkürzungen bei vorzeitiger Pensionierung.
Buying out pension cuts? Or does Rentenkürzungen have another meaning?
Answer: scheint schweizerisch zu sein, gemeint ist offenbar so was wie "compensation"
2 Tritt das Mitglied in den vorzeitigen Ruhestand, wird die Altersrente pro Monat, um welchen der Rücktritt vor der ordentlichen Altersgrenze erfolgt (Art. 11 lit. b), um 0,5 % gekürzt.
3 Die Kürzung kann ausgekauft werden. Die Auskaufssumme bemisst sich nach Anhang 4.
anderes Beispiel:
Falls jedoch die Frühpensionierung vom Arbeitgeber angeordnet wird, übernimmt der Arbeitgeber ... den Auskauf der Rentenkürzung.

"The PBGC severely reduces the monthly payout to anyone who starts getting checks before age 65. If an employer provides any kind of early-retirement subsidy, and will pass that subsidy on to those who take lump sums, it can pay to cash out."
Selected response from:

oa_xxx (X)
Germany
Local time: 01:20
Grading comment
Thanks for all the input and the interesting references.
4 KudoZ points were awarded for this answer



Summary of answers provided
3(compensation, subsidy)
oa_xxx (X)


  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
(compensation, subsidy)


Explanation:
Not so sure myself how to word it but maybe these links/excerpts will help!

The employer has to compensate the cut in pension

early-retirement subsidy

Early retirement with consent
"Alternatively, you may discuss early retirement with your employer. If your employer consents to allow you to retire early, you will be paid your pension early. If your benefits are subject to an actuarial reduction for early payment your employer can buy this out by payment of the appropriate cost. "
http://www.admin.ox.ac.uk/pensions/retiring.shtml

Found this in dict.cc forum:
In my case I'm not sure if it's "buy out". The sentence is : Dies gilt auch für den Auskauf zusätzlicher Rentenkürzungen bei vorzeitiger Pensionierung.
Buying out pension cuts? Or does Rentenkürzungen have another meaning?
Answer: scheint schweizerisch zu sein, gemeint ist offenbar so was wie "compensation"
2 Tritt das Mitglied in den vorzeitigen Ruhestand, wird die Altersrente pro Monat, um welchen der Rücktritt vor der ordentlichen Altersgrenze erfolgt (Art. 11 lit. b), um 0,5 % gekürzt.
3 Die Kürzung kann ausgekauft werden. Die Auskaufssumme bemisst sich nach Anhang 4.
anderes Beispiel:
Falls jedoch die Frühpensionierung vom Arbeitgeber angeordnet wird, übernimmt der Arbeitgeber ... den Auskauf der Rentenkürzung.

"The PBGC severely reduces the monthly payout to anyone who starts getting checks before age 65. If an employer provides any kind of early-retirement subsidy, and will pass that subsidy on to those who take lump sums, it can pay to cash out."


    Reference: http://www.direct.gov.uk/Bfsl1/BenefitsAndFinancialSupport/I...
    Reference: http://www.admin.ox.ac.uk/pensions/retiring.shtml
oa_xxx (X)
Germany
Local time: 01:20
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks for all the input and the interesting references.
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