Minimum Guaranteed Benefit definition

Minimum Guaranteed Benefit means the minimum benefit which is required by the Relevant Law or a Prescribed Agreement or Award to be paid to, or in respect of, a Member.
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Examples of Minimum Guaranteed Benefit in a sentence

  • The amount of the Minimum Guaranteed Benefit, payable at the Member's Postponed Retirement Date will be an amount calculated as at the Member's Normal Retirement Date in accordance with Section 7.01(b), but based on Earnings, Pensionable Service and Year's Maximum Earnings at the Member's Postponed Retirement Date.

  • The amount of supplementary pension required to provide the Member with the Minimum Guaranteed Benefit for that year, if any, will be payable from the Minimum Guarantee Fund in accordance with Sections 7.01(b), 7.02(b) or 7.03(b), as appropriate.

  • The amount of the Minimum Guaranteed Benefit, payable at the Member's Early Retirement Date will be an amount calculated as at the Member's Normal Retirement Date in accordance with Section 7.01(b), but based on Earnings, Pensionable Service and Year's Maximum Earnings at the Member's Early Retirement Date.