Common use of Supplementary Plan Clause in Contracts

Supplementary Plan. The following language will be included in the supplementary plan: “Society members of the Kinectrics Pension Plan, whose pension income as a pensioner will exceed the limits prescribed by the Income Tax Act (ITA) for pension paid from a registered pension plan, are eligible for the supplementary pension payment. The supplementary pension payments top up the amount one receives from the Kinectrics registered pension plan to the amount one would receive if there were no ITA limits.”