Deferred Vacation for Early Retirement. In the five years before expected retirement, a Regular employee with twelve (12) or more years service, shall be allowed vacation carryover for early retirement. Any vacation entitlement in excess of ten (10) days may be carried over for early retirement. On taking early retirement vacation the employee shall receive continuous pay cheques and full employee benefits. Official retirement day for the purposes of pension and termination shall be on exhausting the deferred vacation. Current year vacation entitlement for the year the employee retires can either be taken as vacation or paid out. Employees shall have the option.
Appears in 5 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Deferred Vacation for Early Retirement. In the five years before expected retirement, a Regular employee with twelve TWELVE (12) or more years service, shall be allowed vacation carryover for early retirement. Any vacation entitlement in excess of ten TEN (10) days may be carried over for early retirement. On taking early retirement vacation the employee shall receive continuous pay cheques and full employee benefits. Official retirement day for the purposes of pension and termination shall be on exhausting the deferred vacation. Current year vacation entitlement for the year the employee retires can either be taken as vacation or paid out. Employees shall have the option.
Appears in 3 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
