Bridge Benefit. (a) The Company shall provide a pension bridge annuity benefit of $20 per month per year of service to employees aged 60 or older who retire prior to attaining age 65. The pension bridging benefit will not be payable beyond age 65. The calculation of the pension bridge benefit shall be credited on the same basis as under the terms and conditions of the Pulp and Paper Industry Pension Plan. An employee who chooses to retire at age fifty-five (55) or later shall have access to the bridging benefit paid by the Company when they reach age sixty (60).
Bridge Benefit. There will be available a Term Annuity Benefit which will be funded by the Company in a manner of its own selection. This benefit will be available to those employees who request it and who choose to retire early from active employment commencing at age 60 and up to, but not including, age 65. The Company shall provide a pension bridge annuity of twenty dollars ($20) per month, per year of service to employees aged sixty (60) or older who retire prior to attaining age sixty five (65). The calculation of the pension bridge benefit shall be credited on the same basis as under the terms and conditions of the Pulp and Paper Pension Plan. Payments under this provision will cease at the end of the month immediately preceding the month in which the employee who selects to retire early under this provision attains age 65 or dies, whichever occurs first. Should an employee return to work after commencement of this provision, the payment will be handled on the same basis as the pension benefit is handled under the terms of Section 18 of the Plan Text. An employee who chooses to retire at age fifty-five (55) or later shall have access to the bridging benefit paid by the Company when they reach age sixty (60).
Bridge Benefit. Subject to Income Tax Act (Canada) limitations, an employee who elects to retire on or after his sixtieth (60) birthday but prior to his sixty-fifth (65) birthday who has at least 30 years of service with Visteon and/or the Company at the time of retirement shall be entitled to a monthly bridge benefit equal to the product of:
Bridge Benefit. (As described in Section 6 of the Plan Text)
Bridge Benefit. Such bridge benefit is already provided for by Section 7 of Article VI of the Registered Plan text.
Bridge Benefit. If the Employee retires on or after the Retirement Date but before reaching age 65, the Corporation will pay a monthly Bridge Benefit to the Employee during the period after retirement up until the date the Employee reaches age 65. This monthly Bridge Benefit shall be an amount equal to one twelfth of the product of 0.5% multiplied by the Average Earnings up to the YMPE in the year of retirement, multiplied by Continuous Service.
Bridge Benefit. Effective Date of Ratification, $26.00 per month per year of service payable from the early retirement date to age sixty-five (65) or death, if earlier. Bridge Benefit payable when employee selects early retirement after becoming eligible (sixty (60) years of age and ten (10) or more years of service). Benefit payable monthly from the early retirement date to age sixty-five (65) or death, if earlier.
Bridge Benefit. The Company shall provide employees with a pension bridge annuity of twenty dollars ($20.00) per month per year of service at age sixty
Bridge Benefit. Subject to Income Tax Act limitations, an employee who elects to retire on or after his sixtieth (60) birthday but prior to his or her sixty-fifth (65) birthday who has at least 30 years of service with the Company and/or Visteon at the time of retirement shall be entitled to a monthly bridge benefit equal to the product of:
Bridge Benefit. The executive at his sole discretion may bridge a gap, if any, between the end of a severance period and Age 55 by electing to commence pension payments immediately following the end of the severance period. The pension entitlement otherwise due at Age 55 will be reduced by an actuarial calculation such that there would be no added cost to the Corporation.
