Common use of Retirement Allowance and Pre-Retirement Leave Clause in Contracts

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Commission, an employee who has completed 20 years of service with the Commission, including any service with the Government of BC prior to transfer to the Commission and who, under provisions of the Pension (Public Service) Act, is entitled to receive a superannuation allowance on retirement, is entitled to an amount equal to the employee's salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-fifth of the employee's monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Commission, an employee who has completed 20 years of service with the Commission, including any service with the Government of BC prior to transfer to the Commission and who, under provisions of the Pension (Public Service) Act, is entitled to receive a superannuation pension allowance on retirement, is entitled to an amount equal to the employee's salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-fifth of the employee's monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirementretirement Service with the Public Service is only included where the employee was involved in the September 4, 2006 transfer from the Public Service to the Commission.

Retirement Allowance and Pre-Retirement Leave. Upon retirement from the Commission, an employee who has completed 20 years of service with the Commission, including any service with the Government of BC prior to transfer to the Commission and who, under provisions of the Pension (Public Service) Act, is entitled to receive a superannuation pension allowance on retirement, is entitled to an amount equal to the employee's salary for one month, and for each full year of service exceeding 20 years but not exceeding 30 years, is entitled to an additional amount equal to one-one- fifth of the employee's monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirementretirement Service with the Public Service is only included where the employee was involved in the September 4, 2006 transfer from the Public Service to the Commission.