Common use of PENSION AND INSURANCE Clause in Contracts

PENSION AND INSURANCE. 14.1 Changes to the Pension Plan and Group Life Insurance Plan 14.1.1 The present pension plan and group life insurance plan form part of this Collective Agreement. The pension plan is described in the Kinectrics Inc. Pension Plan document. The group life insurance plan is described in the Kinectrics Group Life Insurance policy document. Changes to the plan affecting employees within the jurisdiction of the Union shall be subject to the following: 1. Changes other than legislative changes shall be made only upon mutual consent. 2. In the event of the enactment of any general pension legislation applicable to the employees of Kinectrics, amongst others, Kinectrics may, after notification to the Union, effect amendment of the Kinectrics provided that the combination of benefits resulting from the Kinectrics Plan as so amended and such legislation will not be less in the aggregate than the benefits now provided. 14.1.2 Pension and insurance items will be submitted at the time that regular amendments to the Collective Agreement are submitted and will be negotiated at the time of regular bargaining.