Examples of Separate Pension in a sentence
Where a Limited Member dies while in receipt of a Separate Pension, any amount by which the Limited Member’s Proportionate Share of the contributions with Interest exceeds the aggregate amount of the Separate Pension payments made to the Limited Member shall be paid in a lump sum to the Limited Member’s estate.
Where a Limited Member dies prior to receipt of a Separate Pension, the Administrator shall provide for payment of the Limited Member’s Proportionate Share of the Commuted Value of the pension benefits to the estate of the Limited Member.
The Separate Pension payable to a Limited Member shall be based on the form of pension benefits payable to a Pensioner who does not have a Principal Beneficiary or Child at their date of death.
The Administrator shall give a Limited Member, until the Limited Member begins receipt of a Separate Pension under the Pension Plan, 30 days' advance written notice of any transaction relating to the Member's or Deferred Pensioner’s pension benefits by reason of the retirement or death of the Member or Deferred Pensioner, or a direction given to the Administrator by the Member or Deferred Pensioner.
Where a Member or Deferred Pensioner dies before a Limited Member, and after the Limited Member is entitled to begin, or has begun, a Separate Pension, no pre- retirement death benefit is payable to the Limited Member.