Lifetime Pension definition

Lifetime Pension means the pension determined in accordance with the provisions of Article 8.
Lifetime Pension means the pension payable for the lifetime of a Member, calculated under section 7.02 and does not include the Bridge Pension.

Examples of Lifetime Pension in a sentence

  • After Retirement Spouse Lifetime Pension .............................................

  • Before Retirement Spouse Lifetime Pension ...........................................

  • A number of bills have been introduced in Congress, which are designed to provide tax incentives to save for retirement through annuities (e.g., Lifetime Pension Annuity for You Act, Retirement Security for Life Act).

  • The Council shall be the Executive body composed of elected members and those otherwise validly appointed to the Council by the bye -laws.

  • Except as otherwise required in any applicable law, no amendment will reduce any Normal Retirement Benefit accrued under the Plan before the amendment is adopted, or adversely affect any Retirement Benefit being paid to any Pensioner, any Spouse Lifetime Pension being paid to any Spouse or Surviving Spouse, any Survivor Benefit, some portion of which is being paid, or any Lump Sum Death Benefit payable because of a Plan Member’s death before the amendment.

  • Where required by the Pension Benefits Act, such transferred amount shall be administered only for the provision of a Lifetime Pension Benefit for the Member or for the provision of Pension Benefits or lump-sum refunds, as applicable, in the event of the death of the Member.

  • The Review looked at the Lifetime Pension Benefit Calculations of the various plans.

  • The Surviving Spouse of a Vested Participant who dies before his Pension Effective Date is eligible for a BeforeRetirement Spouse Lifetime Pension.

  • Lifetime Pension BenefitBenefit may exceed maximum lifetime pension limit under the ITA.Minimum of $2,444 (2009) or 2% of the highest average indexed compensation per year of credited service.HAIC = average of best 3 non-overlapping 12-month periods of indexed compensation.$2,444 limit to be indexed after 2009 in accordance with the average wage.

  • Provided that with respect to any period for Pensionable Service pursuant to clause 7.2(e) that is prior to 1990 and is a period which was not pensionable service of the member under a defined benefit provision of any registered pension plan, the limitation referred to in subclause (b) above on the Lifetime Pension Benefits shall be two-thirds of the amount otherwise determined by that subclause (b).

Related to Lifetime Pension

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

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • 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.

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • Foreign Pension Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States 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, 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.

  • occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;

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

  • Actuarial equivalent means a benefit of equal value when