Common use of Payment of Pre-Retirement Leave Clause in Contracts

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-rated portion of pre- retirement leave based on their actual hours worked as compared to those of a full-time employee. (e) Calculation of pre-retirement leave shall begin from the date of the employee’s last commencing employment with the Employer and shall be based on the employee’s total length of continuous employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Text, and other applicable written policies and guidelines.

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-rated portion of pre- pre-retirement leave based on their actual hours worked as compared to those of a full-time employee. (e) Calculation of pre-retirement leave shall begin from the date of the employee’s employee‟s last commencing employment with the Employer and shall be based on the employee’s employee‟s total length of continuous employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Text, and other applicable written policies and guidelines.

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-rated portion of pre- retirement leave based on their actual hours worked as compared to those of a full-time employee. (e) Calculation of pre-retirement leave shall begin from the date of the employee’s last commencing employment with the Employer and shall be based on the employee’s total length of continuous service/length of employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Text, and other applicable written policies and guidelines.

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-rated portion of pre- retirement leave based on their actual hours worked as compared to those of a full-time employee.. Part-time employees shall be granted paid pre-retirement leave as specified above on a pro rata basis. Calculation will be based on the following formula: Total Hours paid at Regular Rate From Last Date of Employment Full-Time Annual Hours x 4 Days (e) Calculation of pre-retirement leave shall begin from the date of the employee’s last commencing employment with the Employer Employer, see Article 2:07, and shall be based on the employee’s total length of continuous employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Texttext, and other applicable written policies and guidelines.

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-pro- rated portion of pre- pre-retirement leave based on their actual hours worked as compared to those of a full-time employee. (e) Calculation of pre-retirement leave shall begin from the date of the employee’s employee‟s last commencing employment with the Employer and shall be based on the employee’s employee‟s total length of continuous employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Text, and other applicable written policies and guidelines.

Payment of Pre-Retirement Leave. (a) Payment shall, at the option of the employee, be made in a lump sum or as a continuation of salary until the scheduled retirement date is reached. Former Civil Service employees are entitled to the lump sum payment only and not the continuation of salary provision. However, in the event of a change in the legislation governing the Civil Service Superannuation Plan which would provide for the continuation of salary provisions, the former Civil Service employees shall be entitled to same. (b) Where the employee chooses to take a lump sum payment, the last day worked shall be considered the retirement day and benefits shall cease on that day. (c) Where the employee chooses to take pre-retirement leave as a continuation of salary until the scheduled retirement date, all benefits shall continue until that date. (d) Employees who have worked on a part-time basis during their employment with the Employer shall receive a pro-rated portion of pre- retirement leave based on their actual hours worked as compared to those of a full-time employee. (e) Calculation of pre-retirement leave shall begin from the date of the employee’s last commencing employment with the Employer and shall be based on the employee’s total length of continuous service/length employment as at the date of retirement. (f) Pre-retirement pay may be utilized to directly fund the buyback of pension service in accordance with Canada Revenue Agency (CRA) limits and restrictions. Contributions for this purpose must also conform to the specific Pension Plan Trust Agreements, Plan Text, and other applicable written policies and guidelines.