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פנסיה מקיפה. קיצבה. תגמולים

English translation: comprehensive pension plan - pensia makifah

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Hebrew term or phrase:פנסיה מקיפה. קיצבה. תגמולים
English translation:comprehensive pension plan - pensia makifah
Entered by: MilesIL

18:42 May 17, 2011
Hebrew to English translations [PRO]
Bus/Financial - Accounting
Hebrew term or phrase: פנסיה מקיפה. קיצבה. תגמולים
פנסיה מקיפה literally means 'detailed pension' , but what does that mean? Is that how the term is used in English?
Secondly, what is the difference in קיצבה and תגמולים? The term קיצבה isn't stipend, it's a kind of pension, but does anyone know how it's supposed to be translated accurately? And if it is translated as pension stipend (perhaps), what is the difference between קיצבה and תגמולים?

I need more than a dictionary's answer- I need an explanation.
R. Miles
comprehensive pension plan - pensia makifah
Explanation:
The risks which are covered in the comprehensive pension plan will be all of these:
a. Old age risks - Guarantee of a pension for life after the insured's retirement. Retirement will be at the accepted retirement age in Israel (today: 65 for men and 60-65 for women). Early retirement at 60 will be permitted, provided that the pension entitlement is according to actuarial calculation.
b. Risk of death - survivor's pension
The survivor's pension will be paid in the event of the death of an active member or a pensioner member. If the pension fund offered one comprehensive pension plan, the pension to the spouse will be at least 50% of the expected entitlement for the insured's old-age pension, and the allowance for orphans (one or more) will be at least 25% of the same expected entitlement. Total pensions and allowances that will be paid to each of the survivors will not exceed 100% of the insured salary.

If the pension fund offered additional (one or more) comprehensive pension plans, then in these plans the pension for the spouse will be at least 30% of the expected pension entitlement of the insured and the allowance for orphans (one or more) will be at least 15% of that expected entitlement. In the additional plans also, the total of all the pensions and allowances paid to each of the survivors will not exceed 100% of the insured salary.

In the case of a fund member who at retirement age has no spouse and no children under the age of 21, the fund can permit him to cease being insured for risk of death, against an increase in the old-age pension.
c. Disability risks - In case of loss of earning capacity before retirement, a partial allowance will be given to the insured. The allowance in each of the plans described above will be at least 40% of the expected old-age pension, and will not exceed 75% of the insured salary.

Finance Ministry site: http://is.gd/aNefML

tagmul - compensation, remuneration.
kitzbah - allowance, annuity, pension

Kitzba includes allowances (usually monthly) of different types such as social security pension - disability, unemployment, temporary disability, etc.
http://is.gd/5eUN9B
Selected response from:

Sandra & Kenneth Grossman
Israel
Local time: 14:51
Grading comment
This was helpful. Thank you.
3 KudoZ points were awarded for this answer



Summary of answers provided
3comprehensive pension plan - pensia makifah
Sandra & Kenneth Grossman


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
comprehensive pension plan - pensia makifah


Explanation:
The risks which are covered in the comprehensive pension plan will be all of these:
a. Old age risks - Guarantee of a pension for life after the insured's retirement. Retirement will be at the accepted retirement age in Israel (today: 65 for men and 60-65 for women). Early retirement at 60 will be permitted, provided that the pension entitlement is according to actuarial calculation.
b. Risk of death - survivor's pension
The survivor's pension will be paid in the event of the death of an active member or a pensioner member. If the pension fund offered one comprehensive pension plan, the pension to the spouse will be at least 50% of the expected entitlement for the insured's old-age pension, and the allowance for orphans (one or more) will be at least 25% of the same expected entitlement. Total pensions and allowances that will be paid to each of the survivors will not exceed 100% of the insured salary.

If the pension fund offered additional (one or more) comprehensive pension plans, then in these plans the pension for the spouse will be at least 30% of the expected pension entitlement of the insured and the allowance for orphans (one or more) will be at least 15% of that expected entitlement. In the additional plans also, the total of all the pensions and allowances paid to each of the survivors will not exceed 100% of the insured salary.

In the case of a fund member who at retirement age has no spouse and no children under the age of 21, the fund can permit him to cease being insured for risk of death, against an increase in the old-age pension.
c. Disability risks - In case of loss of earning capacity before retirement, a partial allowance will be given to the insured. The allowance in each of the plans described above will be at least 40% of the expected old-age pension, and will not exceed 75% of the insured salary.

Finance Ministry site: http://is.gd/aNefML

tagmul - compensation, remuneration.
kitzbah - allowance, annuity, pension

Kitzba includes allowances (usually monthly) of different types such as social security pension - disability, unemployment, temporary disability, etc.
http://is.gd/5eUN9B

Sandra & Kenneth Grossman
Israel
Local time: 14:51
Works in field
Native speaker of: Native in EnglishEnglish, Native in RomanianRomanian
PRO pts in category: 6
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