Common use of Pension Transfer Clause in Contracts

Pension Transfer. The Pension Plan is a locked-in retirement plan. Upon termination of employment, the termination benefits may be transferred to another locked-in retirement plan.

Pension Transfer. The Pension Plan is a locked-in retirement plan. Upon termination of employment, the termination benefits may be transferred to another an eligible locked-in retirement plan. Such payments are made in the proportion of the solvency ratio of the Plan.