Common use of Retirement Allowance and Pre-Retirement Leave Clause in Contracts

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Public Service, an employee who has completed 20 years of service with the Employer and who, under provisions of the Pension (Public Service) Act, is entitled to receive a superannuation allowance on retirement, is entitled to an amount equal to the employee's salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-fifth of the employee's monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Public Serviceservice, an employee who was hired prior to March 3, 2007 and has completed 20 years of service with the Employer Employer, and who, who under the provisions of the Public Service Pension (Public Service) Act, Plan Rules is entitled to receive a superannuation allowance on retirement, is entitled to an amount equal to the employee's their salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-fifth of the employee's their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Public Serviceservice, an employee who has completed 20 years of service with the Employer Employer, and who, who under the provisions of the Public Service Pension (Public Service) Act, Plan Rules is entitled to receive a superannuation allowance on retirement, is entitled to an amount equal to the employee's their salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-fifth of the employee's their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Public Serviceservice, an employee who has completed 20 twenty (20) years of service with the Employer Employer, and who, who under the provisions of the Pension (Public Service) Act, Act is entitled to receive a superannuation allowance on retirement, is entitled to an amount equal to the employee's their salary for one (1) month, and for each full year of service exceeding 20 twenty (20) years but not exceeding 30 thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5) of the employee's their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.