Normal Pension definition

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

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

• If you choose to take your pension before your Normal Pension Age it will normally be reduced, as it's being paid earlier.

• If you take it later than your Normal Pension Age it's increased because it's being paid later.

• The key provisions of the reformed scheme include: a pension based on career average earnings; an accrual rate of 1/57th; and a Normal Pension Age equal to State Pension Age, but with options to enable members to retire earlier or later than their Normal Pension Age.

• In addition, the Proposed Final Agreement includes a Government commitment that those within 10 years of Normal Pension Age on 1 April 2012 will see no change to the age at which they can retire, and no decrease in the amount of pension they receive when they retire.

• If you take it later than your Normal Pension Age it’s increased because it’s being paid later.

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 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

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

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 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 the Pension payable to a Participant whose Retirement occurs on or after his Normal Retirement Date.