Basic Pension Sample Clauses

Basic Pension. At the employee’s sole discretion, after age 55, and with 10 or more years of service, but less than 30 years of service, the employee may retire with a basic pension reduced by 1/2 of 1% for each month that the retirement date precedes his 65th birthday.

Basic Pension. The monthly amount of Basic Pension as of a Member's Date of Determination shall be equal to the Basic Benefit Rate multiplied by his years of Credited Service. For all Members, the Basic Benefit Rate shall be $23.00.

Basic Pension. Each contribution entitles the Policyholder to the acquisition of a pension fraction according to the attached scale, page 10 (Quarterly Contributions). The basic pension is equal to the sum of pension fractions acquired each year.

Basic Pension. At the employee’s sole discretion, after age and with or more years of service, but less than years of service, the employee may retire with a basic pension reduced by of for each month that the retirement date precedes his 65th birthday. At the employee’s sole discretion, after age and with or more years of service, but less than years of service, the employee may retire with a supplemental pension reduced by of for each month that the retirement date precedes his 65th birthday. Employees shall be fully vested in accrued basic pension benefits as required under the Alberta Pension Legislation. Employees terminating with vested basic pension rights are entitled to a deferred vested pension payable at age Current vesting is years of continuous service for full vesting and years of service for vesting of credited service received after January The surviving spouse of an employee who dies after becoming eligible for any form of basic pension benefit under this Plan (whether he is retired or still employed by the employer), shall receive a monthly pension for life equal to of the basic pension, which the deceased spouse was receiving, or would have been entitled to receive, assuming the date of his death had been his normal retirement date for the purpose of this Plan.

Basic Pension. The term “