Payment of pensions. 1. The commencement date for payment of a pension payable by virtue of this Agreement shall be determined in accordance with the legislation of the contracting Party concerned but in no case shall that date be a date earlier than the date on which this Agreement enters into force.
Payment of pensions. 1. Pensions may be validly paid by an agency of one Contracting State to a person residing in the territory of the other Contracting State in the currency of that Contracting State. If pensions are paid in the currency of the other Contracting State, the conversion rate shall be the rate of exchange in effect on the day when pensions are paid.
Payment of pensions. A pension under Rule 9 or Rule IS shall commence:
Payment of pensions. 41 58 Timing.................................................................................... 41 59 Duration.................................................................................. 41 (3) 60 Method and Increases...................................................................... 41
Payment of pensions. 9.1 The Company will pay the pensions monthly at the usual date of salary payments.
Payment of pensions. 1. Based on the application of a pension recipient, the granted pension may be paid in the territory of the Contracting Party which has granted it or may be transferred to the territory of the other Contracting Party where the pension recipient has residence, in the manner prescribed in the Administrative Arrangement provided for in paragraph 1 of Article 11of this Agreement.
Payment of pensions. Each retirement pension shall be paid in monthly installments, provided, however, that the Company in its sole discretion may, where the amount payable at Regular retirement Age, is less than 2% of the YMPE in the year that the employee breaks Accredited service or, where the Commuted Value of the annual pension is less than 4% of the YMPE in the year that the employee breaks Accredited service, pay such pensions in quarterly, semi-annual, or annual installments or in the form of a lump sum which shall, in either case, be Actuarially Equivalent in value to the monthly pension payments. The first monthly installment of any Retirement pension (except in the case of a Medical retirement or a deferred Retirement Pension elected under subsection (a) of Section 4 of Article VI) shall be payable for the first full calendar month following the employee’s retirement, and shall be paid during such month provided the application for a Retirement pension is made not later than the close of the month in which the applicant retires. If the application for a Retirement Pension is made after the close of the month in which the applicant retires, the first monthly installment of the Retirement pension shall be paid for the month in which such application is made. In the case of a medical retirement, the first monthly installment of a Retirement pension shall be payable for the month in which the Medical retirement occurs. The last monthly installment of any Retirement Pension shall be payable for the month in which the death of such person shall occur subject to the provisions of Article VII.
Payment of pensions. Retirement benefits under the Plan will be:
Payment of pensions. Pensions shall be paid directly to the beneficiaries.
Payment of pensions. The pension paying agencies may discharge their obligations under this Convention in their national currency. Transfers resulting from the implementation of this Convention shall take place pursuant to the Conventions that exist between both contracting States. The provisions in the legislation of one of the contracting States with regard to monetary control must not obstruct the free transfer of financial amounts resulting from the implementation of this Convention.
