Special Early Retirement. If you are age 60 or over and you have 25 or more years of credited service you may elect Special Early Retirement in which case you will be entitled to an immediate accrued basic pension equal to the amount of basic pension to your credit for service to your date of early retirement, without reduction for your earlier age of retirement. This pension will be supplemented by an amount necessary to provide the minimum monthly pension amounts set out below, until you first become eligible to receive unreduced Canada Pension Plan Retirement benefits:
Special Early Retirement. If you retire after having attained the age of 60 with at least 25 years of credited service you are entitled to an immediate accrued pension equal to the amount of accrued pension to your credit for service to your date of early retirement. This pension is not reduced because you retire early. A monthly bridge benefit in the amount of $25 monthly for each year of credited service accrued to your date of retirement up to a maximum of 30 years. The bridge benefit will cease at your normal retirement date.
Special Early Retirement. A member retiring after having attained age 60 with at least 30 years of credited service is entitled to an immediate accrued pension equal to the amount of accrued pension to his credit for service to date of early retirement, without reduction for the earlier date of retirement. This pension will be supplemented by an amount necessary to provide a monthly pension of $1,695.00 from Company Plans payable until the member would have first become eligible to receive unreduced Canada Pension Plan Retirement benefits. Thereafter, the supplement shall be recalculated as the amount required to be added to the member's accrued pension and the full unreduced Canada Pension Plan Retirement benefits determined at the date of his retirement to produce a monthly pension of $1,905.00; which supplement shall become his lifetime supplement. In addition to the recalculated lifetime supplement, a member who retires before April 21, 1994 will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member were then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member's lifetime supplement. SER NRD ACCRUAL RATE Effective April 21/94 $1,743 $1,980 $34.00 Effective April 21/95 $1,800 $2,060 $35.00 Effective April 21/96 $1,865 $2,140 $36.00
Special Early Retirement. A Member may retire or may be retired on a Special Early Retirement Date which shall be the first (1st) day of any month following or coincident with the Member having both attained age sixty-two (62) and completed ten (10) years of Credited Service.
Special Early Retirement. (a) A Member who retires on a Special Early Retirement Date will receive an amount of retirement income computed in accordance with Section 6.01 using the Member's Special Early Retirement Date as his Date of Determination.
Special Early Retirement. A member retiring after having attained age 60 with at least 25 years of credited service, is entitled to an immediate accrued pension equal to the amount of accrued pension to his credit for service to date of early retirement, without reduction for the earlier date of retirement. This pension will be supplemented by an amount necessary to provide a monthly pension, as follows, from Company Plans, payable until the member would have first become eligible to receive unreduced Canada Pension Plan Retirement benefits: $3,304 if you retire on or after April 1, 2012, but before March 1, 2014 $3,323 if you retire on or after March 1, 2014 Thereafter, the supplement shall be recalculated as the amount required to be added to the member's accrued pension and the full unreduced Canada Pension Plan Retirement benefits determined at the date of his retirement to produce a monthly pension (as follows) which supplement shall become his lifetime supplement: $3,656 if you retire on or after April 1, 2012, but before March 1, 2014 $3,675 if you retire on or after March 1, 2014 In addition to the recalculated lifetime supplement, a member who retires under this provision (Special Early Retirement) will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member were then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member's lifetime supplement.
Special Early Retirement. An employee who has attained age fifty-seven (57) and who suffers a proven and certified medical disability but is not eligible to receive benefits under the Company's Long Term Disability Plan, or who has attained age fifty-seven (57) and is displaced as a result of a workforce reduction, may be granted the right to retire early on the first day of any month prior to age sixty-five (65) and shall be entitled to receive his accrued normal retirement income benefits without actuarial reduction. The rules and regulations governing such retirements shall be as established by mutual agreement between the Company and the Union Pension and Insurance Committee. This benefit will also be supplemented from this Plan to place the pension payable from Standard Life under the former Plan on the same unreduced basis as is provided under this Plan. Effective May 1, 1998, each such member who, at the date of his Special Early Retirement, has completed at least twenty (20) years of continuous service will also receive a bridging supplement commencing on his early retirement date equal to thirty dollars ($30) per month for each full year of continuous service with the Company to a maximum of thirty
Special Early Retirement. Special early retirement is available for employees who are at least fifty-five (55) years of age at the time of retirement. The amount of pension payable in such case will be actuarially reduced by one-half of one percent per each month in the period from the first day of such retirement to the first day of the month following the attainment of age sixty-five (65).
Special Early Retirement. A Member who attains age 60 and completes 30 years of Credited and elects to retire during the term of this collective agreement, shall be entitled to a pension from the Plan, subject to adjustment under Section 9 and 12, equal to his/her Accrued Retirement Pension as determined at the date of retirement. They shall also be entitled to a temporary monthly pension from the Plan payable to Normal Retirement date (or until death of the Member, if earlier), equal to the Member’s Credited Service multiplied by $15.07. This temporary monthly pension is not subject to adjustment under section 12.
Special Early Retirement. (A) An employee who has attained age sixty-two (62) and has ten (10) or more years of continuous service or an employee who has attained age fifty-five (55) but not age sixty- two (62) and who has thirty (30) or more years of early retirement eligibility service may retire at the option of the employee on or after the effective date of the pension plan and prior to his normal retirement date and shall be entitled to a pension upon his retirement. Such pension shall be an immediate pension, the monthly amount of which as to the basic and supplementary pensions shall be computed as if he were a pensioner entitled to a pension at normal retirement date and with the credited service which he has at the date of such early retirement. The payments shall be subject to the deductions provided for in Article IV and shall continue as to the basic pension to be paid monthly throughout the lifetime of the early pensioner but the supplementary pension will be reduced in accordance with the provisions set forth in Paragraph 3:01 of Article III.
