Canada Pension Plan Benefit definition

Canada Pension Plan Benefit means the retirement pension that would be payable under the Canada Pension Plan at the member's retirement date as if he were age sixty-five
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Canada Pension Plan Benefit means the retirement pension that would be payable under the Canada Pension Plan at the member’s retirement date as if he/she were age at that date, assuming that the member has a full contributory period under the Canada Pension Plan and assuming that earnings have always equalled or exceeded each year’s (as defined in the Canada Pension Plan). SPECIAL PROVISIONS RELATING TOWERE PARTICIPATING IN THE PLAN AS OFFemales who were members of the Plan prior to January will have the option of retiring between ages and Those who retire between ages and will receive a supplementary pension equal to the difference between the pension payable under the Plan which became effective January I, and the pension payable under the Plan in effect prior to January I, This supplementary pension will cease when the female employee qualifies for a pension from the Canada Pension Plan.EARLYEffective September I, any member in service who elects to retire early upon attainment of age or after, provided has accumulated at least years’ continuous service, will receive, commencing on his/her early retirement date, a retirement income benefit equal to the retirement income benefit he/she had accumulated to such early retirement date without actuarial reduction subject to minimum reductions required by Revenue Canada. Such employee will also be provided with a bridging supplement, commencing on his/her early retirement date, equal to thirty dollars per month foreach full year of continuous service (to a maximum of years), reducing to fifteen dollars per month for each year of continuous service (to a maximum of years) on the first of the month next following the employee’s birthday. If such employee retires early on or after age with at leastyears of service, the bridging supplement will equal fifteen dollars per month for each year of continuous service to a maximum of years. The amount of fifteen dollars referred to above will be increased to sixteen dollars in the case of retirees who retire on or after JanuaryThe bridging supplement will reduce to zero on the first day of the month following the member’s birthday or on his/her prior death.The amount of thirty dollars referred to above will be increased to thirty-two dollars in the case of retirees who retire on or after January I, and the amount of thirty-two referred to above, will be increased to thirty-three in the case of retirees who retire on or after January A member who has not attained age or over, but who has accumulated...
Sample 1

Examples of Canada Pension Plan Benefit in a sentence

  • This bridge benefit will be equivalent to the Canada Pension Plan Benefit which is payable at the latter of, the employee's 60th birthday or their actual retirement date, provided such employee had 25 years of pensionable service at the date of their retirement.

  • Each member who retires on or after his normal retirement date, shall receive an annual retirement income, payable monthly, equal to: forty (40) per cent of the total required contributions made prior to August two percent of the member's average earnings from multiplied by years of service from August to a maximum of thirty-five (35) years, less 1/35 of the Canada Pension Plan Benefit for each year of service from August to a maximum of years.

Related to Canada Pension Plan Benefit

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Canadian Pension Plan means a pension plan or plan that is subject to applicable pension benefits legislation in any jurisdiction of Canada and that is organized and administered to provide pensions, pension benefits or retirement benefits for employees and former employees of any Loan Party or any Subsidiary thereof.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Canadian Benefit Plan means any plan, fund, program, or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing material employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Borrower has any liability with respect to any employee or former employee, but excluding any Canadian Pension Plans.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Retirement Benefit means the benefit set forth in Article 5.

  • SERP Benefit means the benefit described in Section 5.1.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Canadian Pension Plans means each pension plan required to be registered under Canadian federal or provincial law that is maintained or contributed to by a Credit Party for its employees or former employees, but does not include the Canada Pension Plan or the Quebec Pension Plan as maintained by the Government of Canada or the Province of Quebec, respectively.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Foreign Pension Plan means any plan, fund (including, without limitation, any superannuation fund) or other similar program established or maintained outside the United States of America by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • Guaranteed Pension Plan means any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Termination Benefit means the benefit set forth in Article 7.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Accrued Benefit have the meanings specified in ERISA.

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Early Retirement Benefit means the retirement benefit payable to a member following early