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Survivor Pension Sample Clauses

Survivor Pension. The normal form of Pension for members with a spouse is Joint and Survivor. The surviving spouse of an employee who dies after becoming eligible for any form of Pension Benefit under this plan, (whether he/she is retired or still employed by the Company), shall receive a monthly pension for life equal to sixty percent (60%) of the pension which the deceased employee was receiving, or was entitled to receive, at the time of death.
Survivor Pension. The surviving spouse of an employee who dies after becoming eligible for any form of basic pension benefit under this Plan (whether he is retired or still employed by the employer), shall receive a monthly pension for life equal to 60% of the basic pension, which the deceased spouse was receiving, or would have been entitled to receive, assuming the date of his death had been his normal retirement date for the purpose of this Plan.
Survivor Pension. The normal form of Pension for members with a spouse is Joint and Survivor. The surviving spouse of an employee who dies after becoming eligible for any form of Pension Benefit under this plan, (whether is retired or still employed by the Company), shall receive a monthly pension for life equal to sixty percent (60%) of the pension which the deceased employee was receiving, or was entitled to receive, at the time of death. At retirement the normal form of Pension for members without a spouse will be life only, guaranteeing the return of the employee’s required contributions (with interest) to normal retirement date. The Plan will permit the election by members of an optional form of pension of equivalent actuarial value. The Union Gas Pension Plan Group One shall contain provisions for members' optional contributions. The monthly pension benefit for members who retire January payable 'under the Union Gas Pension Plan Group One shall be twenty-five dollars ($25.00) multiplied by years (and fractions of a year) of service after March For employees retiring June the twenty-five dollars ($25.00) will increase to twenty-seven dollars ($27.00). For employees retiring after February the twenty-seven dollars ($27.00) will increase to thirty dollars ($30.00). For employees retiring February the thirty dollars ($30.00) will increase to thirty-three dollars ($33.00). For employees retiring after February the thirty-three dollars ($33.00) will increase to thirty-four dollars and twenty-five cents ($34.25). For employees retiring after February the four dollars and twenty-five cents ($34.25) will increase to five dollars and fifty cents ($35.50). For employees retiring and January the thirty-five dollars and cents ($35.50) will increase to thirty-seven dollars and fifty cents ($37.50). For employees retiring January the thirty-seven dollars and fifty cents ($37.50) will increase to thirty-nine dollars and fifty cents ($39.50). For employees retiring January the thirty-nine dollars and cents ($39.50) will increase to forty-one dollars and cents ($41.50). For employees retiring after January the forty-one dollars and cents ($41.50) will increase to forty-three dollars and cents ($43.50). For employees retiring after January the pension benefit will increase to forty-five dollars and fifty cents For employees retiring after January the pension benefit will employees retiring after January the pension benefit will increase to forty-nine dollars and fifty cents ($49.50). Th...
Survivor Pension. The normal form of Pension for members with a spouse is Joint and Survivor. The surviving spouse of an employee who dies after becoming eligible for any form of Pension Benefit under this plan, (whether is retired or still employed by the Company), shall receive a monthly pension for life equal to sixty percent (60%) of the pension which the deceased employee was receiving, or was entitled to receive, at the time of death. At retirement the normal form of Pension for members without a spouse will be life only, guaranteeing the return of the employee’s required contributions (with interest) to normal retirement date. The Plan will permit the election by members of an optional form of pension of equivalent actuarial value. The Group Three Pension Plan shall contain provisions for member’s optional contributions. This provision for optional contributions will cease effective December Membership in the new plan will be restricted to Union Gas Limited, employees represented by the as specified in the applicable certifications with the Ontario Labour Relations Board. When an employee retires at age sixty-two (62) or more, the Company will continue the current amount of life insurance as stipulated in Article This amount will be reduced by twenty-five percent (25%) every twelve (12) months until it reaches a minimum of fifteen hundred dollars ($1,500.00).
Survivor Pension. (cXi) above, a member may elect any one of the options referredto in Article 14.8 (b) which includes the ten (10) or fifteen (15) year guarantee with a fifty percent (50%) Survivor Pension with the applicable actuariaJ reduction factor. It is agreed and understood that the basis for the actuarial tables, in effect on January 1st, 1993, will not be changed.

Related to Survivor Pension

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree. 2. A surviving eligible retiree who qualifies for a monthly retirement allowance who was married to a retiree who was also eligible for a Grant shall receive the survivor benefit described in D.1., above, or his or her own Grant, whichever is greater. Such retiree shall not be eligible for both Grants.

  • Survivors Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply. a. The entitlement to an annuity payment cannot be surrendered, disposed of, divulged or used as security and, in general, no legal action can be taken with regard to this insurance that may lead the tax authorities to take back the premium deduction they received for this insurance in the past. b. The insurer shall be held liable by law for the payment of the wage and income tax and revision interest owed by the policyholder or the person entitled to an annuity as soon as a circumstance referred to under point a arises. c. The insurer will then be entitled to set off the amount of the maximum wage and income tax and revision interest due against the value of the insured annuity(s), irrespective of whether these are paid out or not.

  • ANNUITANT The Annuitant is the person on whose life Annuity Payments are based. The Annuitant is the person designated by you subject to our underwriting rules then in effect. The Annuitant may not be changed in a Contract which is owned by a non-individual.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.