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CHAPTER X
PENSION FUND
Article 47
Pension Fund Program
As part of the Bank’s social responsibility in its attempt to ensure
Employee’s wellbeing in his/her time of retirement, the Bank and the
Union have agreed to provide all permanent Employees with a
Pension Fund Program in addition to that defined by the Manpower
Law. An external body shall be appointed to professionally manage
this Pension Fund Program. The amount of premium contributions is
determined as follows:
1. Bank contribution 5 % of basic salary.
2. Employee contribution 2.5 % of basic salary.
Other terms and conditions of the Pension Fund Program, if any, shall
be arranged further in a Letter of Decision issued by the Management
and the Union.
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