TSP Severance Payment. The amount of TSP payment shall be equivalent to four (4) weeks’ regular (i.e. excluding overtime) pay for each year of service to a maximum payment of fifty-two (52) weeks’ pay and for a minimum payment of eight (8) weeks’ pay. Where there is partial year of service the TSP payment will be pro-rated on the basis of the number of months of service. An Employee who resigns in accordance with these provisions and is eligible to receive a pension under the NSHEPP Pension Plan and commences receiving the pension immediately following the completion of the TSP payment, shall also be entitled to receive the Retirement Allowance under Article 26.02
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
