Minimum Pension At Normal Retirement. If you retire at age 65 with at least 25 years of credited service you are entitled to a minimum monthly pension from Company plans and the Canada Pension Plan combined of:
Minimum Pension At Normal Retirement. If you retire at age 65 with at least 25 years of credited service you are entitled to a minimum monthly pension from Company plans and the Canada Pension Plan combined of: (a) $3,356 if you retire on or after January 1, 2008; (b) $3,406 if you retire on or after January 1, 2012; (c) $3,456 if you retire on or after January 1, 2013; (d) $3,506 if you retire on or after January 1, 2014; (e) $3,556 if you retire on or after January 1, 2015. These amounts represent the minimum monthly pension payable from Company Plans and the Canada Pension Plan combined before allowing for the provision of a spousal survivor pension. The Company pension will be adjusted to provide a survivor pension unless the spouse who will benefit from that survivor pension waives their right to receive it in writing. You will receive a minimum lifetime pension supplement from the Labatt Retirement Plan equal to the amount, if any, required to be added to your accrued basic pension from all Company plans and the full unreduced Canada Pension Plan Retirement benefits determined at the date of your retirement to provide the above minimum monthly pension. If you retire at age 65 with less than 25 years of credited service, the lifetime supplement shall be the amount by which the minimum pension at normal retirement exceeds the full unreduced Canada Pension Plan Retirement benefits, prorated by the ratio of the number of years of credited service to 25 years and reduced by your accrued pension. To determine what, if any, amount of supplement is needed, your basic pension from Company plans is the basic amount payable before the amount of the survivorship pension is calculated, and your CPP pension is the amount you are entitled to receive when you first become eligible at Normal Retirement Age, whether or not you actually make application for such benefits, but disregarding any increase in your CPP pension after its date of commencement.
