Common use of Early Retirement - With Discount Clause in Contracts

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. (i) 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. (ii) All employees who terminate and vest their pension will be entitled to the same early retirement discount as set out under 1. (i) above provided they had completed 25 years' continuous service by the date of their termination. 3. (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, except females hired before 1976. 4. (iv) 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 twenty-five (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 twenty-five (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 fifteen (15) or more mo re but less than 25 twenty-five (25) years' continuous continuou s 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 fifteen (15) or more years' continuous service and do not qualify for an undiscounted pension.