Common use of Reduction of Benefits Clause in Contracts

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan and OMERS (unless the member is in receipt of pension from the Plan or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. and the Canada Pension Plan (By-Law No. 15-92) but excluding the Toronto Pension Plan or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan and OMERS (unless the member is in receipt of pension from the Plan or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. W.S.I.B there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. W.S.I. Act and the Canada Pension Plan but excluding the Metropolitan Toronto Pension Plan (By-Law No. 15-92) but excluding the Toronto Pension Plan or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bankbank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan and OMERS (unless the member is in receipt of pension from the Plan or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. W.S.I. Act and the Canada Pension Plan (but excluding the former Municipality of Metropolitan Toronto Pension Plan By-Law No. 15No.15-92) but excluding the Toronto Pension Plan 92 or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans, insurance plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Metropolitan Toronto Pension Plan and OMERS (unless the member is in receipt of pension from the Plan or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. Workers' Safety Insurance Benefits there will be no reduction in respect ofof : (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. Workers' Safety Insurance Act and the Canada Pension Plan (By-Law No. 15-92) but excluding the Metropolitan Toronto Pension Plan or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan and OMERS (unless the member is in receipt of pension from the Plan or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. W.S.I. Act and the Canada Pension Plan (but excluding the former Municipality of Metropolitan Toronto Pension Plan By-Law No. 15-92) but excluding the Toronto Pension Plan 92 or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan Police Benefit Fund and OMERS (unless the member is in receipt of pension from the Plan Fund or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject time Subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. and the Canada Pension Plan (By-Law No. 15-92) benefits but excluding the Toronto Pension Plan Police Benefit Fund or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.

Reduction of Benefits. Payments will be reduced by benefits, if any, to which the member is entitled under any government plans or other plans to which the Board has contributed, in whole or in part, on his/her behalf except the Toronto Pension Plan Police Benefit Fund and OMERS (unless the member is in receipt of pension from the Plan Fund or OMERS in which event the benefits hereunder would be reduced by the amount of such pension), provided, however, that in the case of W.S.I.B. there will be no reduction in respect of: (i) permanent partial awards relating to a prior disability or accident; or (ii) allowances for expenses other than for lost time. The provision of benefits under the Plan is subject Subject to the overriding condition that the payment under the Bank together with any other payment payable on account of disability of the member under any Board plan, any group insurance contract or any plan of any government shall not exceed 85% of the current rate for the position. The member in order to receive benefits hereunder must make timely and proper application for any disability or other benefits for which he/she may be eligible under any government or private plan, including the W.S.I.B. and the Canada Pension Plan (By-Law No. 15-92) benefits but excluding the Toronto Pension Plan Police Benefit Fund or OMERS, and until the amount of such disability benefits has been established, the Board reserves the right to make the reductions above described on the basis of an estimate of such disability benefits. The member shall be obliged to disclose to the Board all such payments, application for payment of any other benefit, changes in his/her status in respect of any other benefits and any other information reasonably required to determine his/her entitlement under this Bank.