Common use of After Two Years Clause in Contracts

After Two Years. If an employee terminates after two years of contributory service all contributions are locked-in. Voluntary contributions can be withdrawn. Locked-in funds may be: Left in the Plan. Transferred to another Registered Pension Plan, or a locked-in Registered Retirement Savings Plan. Used to purchase a life annuity or Life Income Fund, if age 55 or older.

After Two Years. If an employee terminates after two years of contributory service all contributions are locked-in. Voluntary contributions can be withdrawn. Locked-in funds may be: • Left in the Plan. • Transferred to another Registered Pension Plan, or a locked-in Registered Retirement Savings Plan. • Used to purchase a life annuity or Life Income Fund, if age 55 or older.

After Two Years. If an employee terminates after two years of contributory service all contributions are locked-in. Voluntary contributions can be withdrawn. Locked-in funds may be:  Left in the Plan.  Transferred to another Registered Pension Plan, or a locked-in Registered Retirement Savings Plan.  Used to purchase a life annuity or Life Income Fund, if age 55 or older.