Early Retirement - With Discount. 1. The early retirement discount factors shown in Table 1 are for employees with 25 or more years' continuous service (except females hired before 1976) who do not qualify for undiscounted early retirement pension.
2. All employees who terminate and vest their pension will be entitled to the same early retirement discount as set out under 1. above provided they had completed 25 years' continuous service by the date of their termination.
3. The early retirement discount factors shown in Table 2 apply to all employees who have 15 or more but less than 25 years' continuous service, except females hired before 1976.
4. The early retirement discount factors shown in Table 3 apply to all female employees hired before 1976 who have 15 or more years' continuous service and do not qualify for an undiscounted pension.
Early Retirement - With Discount. 1. The early retirement discount factors shown in Table 1 are for employees with 25 or more years' continuous service who do not qualify for undiscounted early retirement pension.
2. All employees who terminate and vest their pension will be entitled to the same early retirement discount as set out under 1. above provided they had completed 25 years' continuous service by the date of their termination.
3. The early retirement discount factors shown in Table 2 apply to all employees who have 15 or more but less than 25 years' continuous service. Table 1 Table 2 All employees with 25 or more years’ continuous service All employees with 15 or more but less than 25 years’ continuous service Age Percent Discount Age Percent Discount 56 12 56 22 57 9 57 19 58 6 58 16 59 3 59 13 60 0 60 10 61 0 61 8 62 0 62 6 63 0 63 4 64 0 64 2 65 Normal Retirement 65 Normal Retirement The above factors apply to employees who do not otherwise qualify for undiscounted early retirement pension.
Early Retirement - With Discount. The early retirement discount factors shown in Table are for employees with or more years' continuous service (except females hired before 1976)who do not qualify for early retirement pension. All employees who terminate and vest their pension will be entitled to the same early retirement discount as set out under above provided they had completed years' continuous service by the date of their termination. The early retirement discount factors shown in Table apply to all employees who have or more but less than years' continuous service, except females hired before The early retirement discount factors shown in Table apply to all female employees hired before who have or more years' continuous service and do not qualify for an pension.
Early Retirement - With Discount. (i) The early retirement discount factors shown in Table 1 are for employees with 25 or more years' continuous service who do not qualify for undiscounted early retirement pension.
(ii) All employees who terminate and vest their pension will be entitled to the same early retirement discount as set out under (i) above provided they had completed 25 years' continuous service by the date of their termination.
(iii) The early retirement discount factors shown in Table 2 apply to all employees who have 15 or more but less than 25 years' continuous service.
Early Retirement - With Discount. The early retirement discount factors shown in Table are for employees with or more years' continuous service (except females hired before 1976)who do not for early retirement pension. All employees who terminate and vest their pension will be to the same early retirement discount as set out under above provided they had completed years' continuous service by the date of their termination. The early retirementdiscount factors shown in Table apply to all employees who have or more but less than years' continuous service, except females hired before The early retirementdiscount factors shown in Table apply to all female employees hired before who have or more years' continuous and do not qualify for an pension. Transfer of Pension Credits Reciprocal and Ontario Power Generation Providing the reciprocal employers agree, the pension credits may be transferredto and from the reciprocal employer and if the affected employees have fully vested their pension credits with the former employer and were hired by employer within three months of the termination date. This provision allows retroactive application. Indexing Pension benefits for Pension Pian members who immediately prior to termination of employment were members of the Power Workers' Union, will be increased on January of each year by percent of the increase in the Consumer Price Index, up to a maximum of percent (8%) per year. In the event that the increase in the exceeds percent the increase shall be carried forward to future years. Inthe event that the decreases, the percentage decrease shall be applied in determining subsequent increases in pension benefits. A decrease in the shall not reduce pension benefits in payment. Survivor Benefits Pensions of survivors of retirees who were members of the on the day that retired, shall be based on percent (66 of the member's pension. Continued Contributions Employeesmay elect to continue to contribute to the pension plan beyond years of service. Group Insurance At the time permanent wage adjustments to base annual (as defined in the insurance plan) are implemented, adjustments will also be made in insurance coverage as follows: If the change is effective on or between the first calendar and the first fiscal day of the month, eligibility is established for the given month. If the change is effective on any other day of the month, eligibility is established for the next month. Life insurance coverage of will be provided for employees who are required to work or tr...
