Glossary entry

Dutch term or phrase:

premiespaarregeling

English translation:

premium savings scheme

Added to glossary by AllisonK (X)
Aug 19, 2002 14:28
22 yrs ago
Dutch term

premiespaarregeling

Non-PRO Dutch to English Bus/Financial
within context of employee benefits - I don't know if this even exists in English-speaking countries, so......

Proposed translations

2 mins
Selected

premium savings scheme

Subject - Public Administration - Private Administration - Offices(=AD)



(1)
TERM Algemene Premiespaarregeling


Definition Premium saving: basically, a form of saving where a bank pays an additional premium on the interest rate subject to certain conditions being met (Swiss Bank Corporation).

Reference QDEM (1976)
(1)
TERM National Premium Savings Scheme

Reference QDEM (1976)

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4 KudoZ points awarded for this answer. Comment: "Sorry guys, first come, first served! Thanks to all of you!"
3 mins

premium savings scheme

This is how it's often translated in my experience.

-> "2. Premium savings scheme
The employer deducts an agreed amount from the net salary and deposits it in a savings account in the name of the employee. The employer may grant a tax free savings premium up to 100% of the saved sum. The premium is fiscally limited to 1,138 dfl a year. This scheme also includes the condition that the money remains in deposit for at least four years, and that premature withdrawals are permitted only under certain circumstances."
http://www.cbs.nl/en/figures/keyfigures/hfo0511y.htm

-> "We further offer a flexible pension scheme, the opportunity to join our premium savings scheme and salary savings scheme, a contribution to medical insurance, advantageous group insurance and a home PC scheme."
http://www.eur.nl/vacature/Holding0210.html
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5 mins

Premium savings scheme

Premium savings scheme
The employer deducts an agreed amount from the net salary and deposits it in a savings account in the name of the employee.

The employer may grant a tax free savings premium up to 100% of the saved sum.
The premium is fiscally limited to 1,138 dfl a year. This scheme also includes the condition that the money remains in deposit for at least four years, and that premature withdrawals are permitted only under certain circumstances.

ref. http://www.cbs.nl/en/figures/keyfigures/hfo0511y.htm
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11 hrs

I wonder whether we are not talking about a superannuation scheme here

The American refer to it as a pension plan, but UK and commonwealth countries usually use the word superannuation.
It generally conssists of regular amounts (premies) paid by both the employee and the employer, and subject to strict rules (accessibility at retirement etc), it is usually treated preferentially from a tax point of view.
Cheers
Louis
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