In the US partnership, do you get your capital back upon retirement - assuming you are fully vested? So is that one time payment in addition to the pension?

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Yes although there’s usually a deferred tax associated with it, which brings it down quite a bit.

It’s not a one time payment - you maintain capital proportionate to your equity in the firm which increases over time.

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Got it - you will but that tax deferred liability will eat most of it so don’t get too excited.

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What’s the average annual % increase on equity?

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