Glossary entry (derived from question below)
Dutch term or phrase:
AOW enkelvoudig
English translation:
Individual Old Age Pension (Status: married or cohabiting)
Added to glossary by
Albert Stufkens
Sep 28, 2007 10:59
16 yrs ago
12 viewers *
Dutch term
10/7 AOW enkelvoudig
Dutch to English
Bus/Financial
Business/Commerce (general)
Pension schemes
In a summary statement of a pension scheme, it states the following
Franchise: 10/7 AOW enkelvoudig
Can anyone explain what this means please, and how I should translate it.
Many thanks
Franchise: 10/7 AOW enkelvoudig
Can anyone explain what this means please, and how I should translate it.
Many thanks
Proposed translations
(English)
| 4 | single national legislation based Old Age Pension |
Albert Stufkens
|
| 3 +2 | "AOW" for a single individual |
jarry (X)
|
| 3 | state pension offset is equal to 10/7 of (basic/simple) state pension |
CJG (X)
|
Change log
Oct 9, 2007 10:40: Albert Stufkens Created KOG entry
Proposed translations
4 hrs
Albert Stufkens
Netherlands
Netherlands
Native in Dutch
&
English
Specializes in field
Netherlands
Translation Facilitates Communication
Native in: Dutch (Variant: Netherlands) 
, English (Variant: British)
Works in: Dutch to English, English to Dutch
Related KudoZ points
:
18
Selected
single national legislation based Old Age Pension
"Enkelvoudig" in this context has nothing to do with the absence of a partnership. In that case the term "alleenstaande" would apply.
"Enkelvoudig" means that only one national legislation applies to pension benefits.
This issue relates to nationals living in a country other than a country from which they hope to get a pension.
--------------------------------------------------
Note added at 1 day2 hrs (2007-09-29 13:40:22 GMT)
--------------------------------------------------
"Franchise" is an insurance term meaning approx. 'threshold'.
That is to say that the secondary (i.e. private) pension relates to an amount that excludes the amount of the state pension. The idea being that at the pensionable age the monthly income will comprise the state pension plus this paid for private pension totalling an envisaged monthly income, whereas the premiums payable will only relate to the amount excluding the state pension.
"Franchise (NL)" = franchise (GB) as an insurance term
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:22:55 GMT)
--------------------------------------------------
It seems that for married persons the term "enkelvoudig" is also used, meaning that each partner gets 50% of the total state pension for a married couple (both being over 65).
"Meervoudig" would then mean twice this 50%.
I strongly suspect that these terms are applied within the insurance industry only, and not in legislation.
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:27:25 GMT)
--------------------------------------------------
Also see: http://www.duurstedevastgoed.nl/socialewetten 2005.htm
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:43:54 GMT)
--------------------------------------------------
"Franchise: 10/7 of the individual rate for married couples"
The connection with married or cohabiting couples must be stressed because the rate for a single individual living independently is definitely higher and is not considered for insurance purposes!
"Enkelvoudig" means that only one national legislation applies to pension benefits.
This issue relates to nationals living in a country other than a country from which they hope to get a pension.
--------------------------------------------------
Note added at 1 day2 hrs (2007-09-29 13:40:22 GMT)
--------------------------------------------------
"Franchise" is an insurance term meaning approx. 'threshold'.
That is to say that the secondary (i.e. private) pension relates to an amount that excludes the amount of the state pension. The idea being that at the pensionable age the monthly income will comprise the state pension plus this paid for private pension totalling an envisaged monthly income, whereas the premiums payable will only relate to the amount excluding the state pension.
"Franchise (NL)" = franchise (GB) as an insurance term
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:22:55 GMT)
--------------------------------------------------
It seems that for married persons the term "enkelvoudig" is also used, meaning that each partner gets 50% of the total state pension for a married couple (both being over 65).
"Meervoudig" would then mean twice this 50%.
I strongly suspect that these terms are applied within the insurance industry only, and not in legislation.
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:27:25 GMT)
--------------------------------------------------
Also see: http://www.duurstedevastgoed.nl/socialewetten 2005.htm
--------------------------------------------------
Note added at 1 day3 hrs (2007-09-29 14:43:54 GMT)
--------------------------------------------------
"Franchise: 10/7 of the individual rate for married couples"
The connection with married or cohabiting couples must be stressed because the rate for a single individual living independently is definitely higher and is not considered for insurance purposes!
Peer comment(s):
| agree |
Jack den Haan
: Quite a mouthful, but in any case your interpretation is correct IMHO.
2 hrs
|
|
Thank you. A mouthful indeed.
|
|
| disagree |
jarry (X)
: The AOW is not "an old age" pension, That term implies that people receive this pension only when they are old when in fact some beneficiaries of this pension live for another 30 years or more! Yes, in SA it is called State Pension.
10 days
|
|
OK Jarry. These days at 65 one is still young. AOW stands for Algemene Ouderdomswet. Van Dale defines this as Old Age Pension. In Australia it is called Age Pension. In US : Social Security. In SA: State Pension?
|
4 KudoZ points awarded for this answer.
Comment: "Sorry for the delay in awarding points. Decided to award Albert the points, as his explanations helped most of all in trying to understand the term here. Many thanks also to Jarry and cjguy."
+2
11 mins
"AOW" for a single individual
as opposed to a married couple or two individuals who have entered into a partnerhip (cohabitation)
"AOW" stands for "Algemene OudersdomWet" (State Pension)
"AOW" stands for "Algemene OudersdomWet" (State Pension)
Peer comment(s):
| agree |
Dave Calderhead
55 mins
|
|
Thank you Dave
|
|
| agree |
Alexander Schleber (X)
2 hrs
|
|
Hi Alexander! Thank you
|
1 day 2 hrs
state pension offset is equal to 10/7 of (basic/simple) state pension
This may provide some explanation:
De minimum AOW franchise bedraagt 10/7 maal de enkelvoudige
reële AOW-uitkering van een gehuwde, inclusief structurele verhogingen en vakantietoeslag,
maar exclusief de toeslag voor een partner jonger dan 65 jaar. De minimum AOW franchise
voor een DGA die (gedeeltelijk) pensioen in eigen beheer opbouwt bedraagt 10/7 maal de reële AOW-uitkering van een ongehuwde, inclusief structurele verhogingen en vakantietoeslag
De minimum AOW franchise bedraagt 10/7 maal de enkelvoudige
reële AOW-uitkering van een gehuwde, inclusief structurele verhogingen en vakantietoeslag,
maar exclusief de toeslag voor een partner jonger dan 65 jaar. De minimum AOW franchise
voor een DGA die (gedeeltelijk) pensioen in eigen beheer opbouwt bedraagt 10/7 maal de reële AOW-uitkering van een ongehuwde, inclusief structurele verhogingen en vakantietoeslag
Discussion