change option definition
change option means the one-time option granted by the Bank to its employees as at December 31, 2011 (other than those employed as Governor or Senior Deputy Governor of the Bank) to elect, in the manner and within the time prescribed by the Bank, whether the pre-change Plan terms or the post-change Plan terms apply to the obligations and entitlements in respect of their pensionable service and credited service accrued on and after January 1, 2012, subject to the terms set out in the option;