For Pensionable Service after 2015. All increases to pensions and deferred pensions for Pensionable Service after 2015 are conditional on the funding level of the Plan (and may be nil in any given year or years) and will be determined by the Administrative Board in accordance with the Funding Policy. If given, the increases must not exceed the amount permitted under the Income Tax Act.
For Pensionable Service after 2015. Subject to Subsection (3), a Member, who is not a Deferred Member, who retires in accordance with Subsection 7.2(1) and whose age on the date the Member’s pension commences when added to the Member’s Service on that date totals 85 or more years, or who retires in accordance with Subsection 7.2(2) and who has 35 years of Service, is entitled to receive in respect of their Pensionable Service after 2015 an immediate lifetime pension and an immediate bridge benefit calculated in accordance with Sections 8.1 and 8.2 and payable in accordance with Section 10.1.
For Pensionable Service after 2015. Subject to Subsection 9.2(3), a Member, who is not a Deferred Member, who retires in accordance with Subsection 7.2(1) but whose age on the date the Member’s pension commences when added to the Member’s Service on that date does not total 85 or more years and who has less than 35 years of Service is entitled to receive in respect of their Pensionable Service after 2015 an immediate lifetime pension calculated in accordance with Section 8.1 and payable in accordance with Section 10.1. Such immediate pension must be reduced so that it is Actuarial Equivalent in value to the unreduced lifetime pension that would commence on the earlier of i) the date the Member’s age and Service, assuming no service grow-in, will total 85, and
