Normal Pension definition

Normal Pension means the type of Pension described in Section 6.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Normal Pension means the amount of lifetime pension determined in accordance with Article 3.1.

Normal Pension means the annual pension which would be payable to a Member if the following did not apply: Rule 8 (Other Choices for Early Leavers), the second paragraph of Rule 10A (General), Rule 12B (GMP Increase), Rule

Examples of Normal Pension in a sentence

• The monthly amount of the Early Retirement Pension is the amount of the Normal Pension or Reduced Pension the Participant would receive if he were then age 65 reduced by five-ninths of one percent (.5555%) for each month by which the Annuity Starting Date precedes the month in which the Participant would reach age 65.

• If there is a discrepancy between this summary and the terms of the Plan documents under which the Normal Pension amounts originated, the original Plan documents will govern.

• Tier 2 Unable to carry out regular employment of like duration to NHS employment up to your Normal Pension Age due to permanent ill health.

• The amount shall be equal to the Participant's projected Normal Pension that would have been payable had such Participant worked until his/her Normal Retirement Date.

• The monthly pension payable to an Employee who had elected an optional form of pension shall, during the term certain period pursuant to Paragraph 6 above, for a Normal Pension or a pension pursuant to Paragraph 13 of Article VII, for an Early Pension and for a Disability Pension be computed in accordance with the provisions of ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ 2, or Paragraph 3 of this Article V, respectively.

More Definitions of Normal Pension

Normal Pension means an annual pension equal to the product of 2% of the Senior Executive's Final Average Compensation and the number of the Senior Executive's years of Service, but in no event shall such annual pension exceed 60% of Final Average Compensation.

Normal Pension means that pension benefit to which a Member may be entitled under Article 7 hereof.

Normal Pension. Normal annual pension is 1.25% of the average of the employee's best three (3) year's earnings multiplied by the number of years of credited service. Full earned pension at age 60 provided employees have 25 or more years of seniority. As of November 15, 1996, this will be reduced to 20 years or more years seniority. As of November 15, 1996, a bridging of $200.00 per month from age 60 to 65 will be given to employees on full pension. Health Insurance ---------------- Company will pay the full cost of health insurance (Major Medical) for retirees to age 65. - Interest rate on employee contributions will be the annual average of bank interest on a non-checking savings account. - Employees absent from work due to illness or injury may elect to repay missed pension contributions on the basis of the following formula:- employees will repay 49% of the premium, however will have no premiums to reimburse when he is receiving 70% of his salary while on W.I.

Normal Pension means a Participant’s accrued benefit payable at Normal Retirement Age, expressed as a monthly or annual payment.

Normal Pension means the annual pension which would be payable to a Member if the following did not apply: Rule 6 (Elections at Retirement), the second paragraph of Rule 18A (Pension Increases), Rule 19C (GMP Increases), Rule

Normal Pension means a pension in the amount receivable under section 19(1) and in the form specified in section 19(2)(a) or (b), depending on which of those clauses applies;

Normal Pension means a pension in the amount receivable under