Encyclopedia

Is a type of pension plan in which an employer promises a specified pension payment on retirement that is predetermined by a formula based on the employee’s earnings history, years of service and age. (toegezegd pensioenregeling)

Is a pension plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts plus any investment earnings on the money in the account. A defined contribution plan does not promise a specific amount …

Defined Contribution Read More »

Development Policy Operations (DPOs) for Sint Maarten are budget support operations designed to strengthen public financial management, improve social insurance sustainability, and support fiscal resilience.

Is a form of approval. Ministers are discharged of their responsibility for their financial management and policy. (decharge)

A statement made by an auditor that no opinion is being given regarding the financial statement. (oordeelsonthouding)