Encyclopedia

Defined Benefit

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)

Defined Contribution

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 …

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Development Policy Operations (DPO)

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.

Discharge

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

Disclaimer of Opinion

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