Common use of On Retirement Clause in Contracts

On Retirement. ▇▇ retirement from the Employer, an employee who is entitled to an immediate pension under the Yukon Hospital Pension Plan shall be paid severance pay of one weeks pay for each completed year of continuous employment, less any period in respect of which such employee was previously granted severance pay up to a maximum of 30 weeks. Employees hired after December 31, 2001 are not entitled to severance pay on retirement.