Common use of Point Retirement Clause in Contracts

Point Retirement. A member retiring after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension all determined as of the member's actual date of retirement.

Point Retirement. A member retiring on or after January 1, 1991 and after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension pension all determined as of the member's actual date of retirement.

Point Retirement. A member retiring on or after and after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension pension all determined as of the member's ’s actual date of retirement.

Point Retirement. A member retiring on or after April 21, 1991, and after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) ), is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension pension all determined as of the member's actual date of retirement.