PENSION PLAN MEMBER definition

PENSION PLAN MEMBER means a member or former member of the Pension Plan from which the Locked-In Funds originated;
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PENSION PLAN MEMBER. The Pension Plan member must complete Pension Plan enrolment form. The Pension Plan Member must report promptly any change of address, marital status and/or beneficiary. Furthermore, the Pension Plan Member must use due diligence and take advantage of information available to him through the Insurance Carrier, or others of his choice, to enable him to make the best decisions for himself in choosing from the available investment vehicles in order to maximize his retirement income. Should the Member wish to participate in the voluntary Group RRSP Plan, member must complete the Group RRSP enrolment form. Note: The Union utilizes the services of an Insurance carrier to provide the custodial services and investment funds that each individual member selects according to their investment profile and time horizon. Money Purchase or Defined contribution Plan: Under this arrangement contributions as specified herein are directed to individual Members' Accounts. Each member will have an individual account set up with the Insurance carrier. It is similar to an RRSP except that an annuity (monthly pension) or Life Income Fund (LIF) must be purchased to provide for a monthly pension income at retirement. Members' Accounts are administered as follows:
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PENSION PLAN MEMBER. The Pension Plan Member must report promptly any change of address, marital status and/or beneficiary. Furthermore, the Pension Plan Member must use due diligence and take advantage of information available to him through the Insurance Carrier, or others of his choice, to enable him to make the best decisions for himself in choosing from the available investment vehicles in order to maximize his retirement income. Note: The Union utilizes the services of an Insurance carrier to provide the custodial services and investment funds that each individual member selects according to their investment profile and time horizon. Money Purchase or Defined contribution Plan: Under this arrangement contributions as specified herein are directed to individual Members' Accounts. Each member will have an individual account set up with the Insurance carrier. It is similar to an RRSP except that an annuity (monthly pension) or Life Income Fund (LIF) must be purchased to provide for a monthly pension income at retirement. Members' Accounts are administered as follows:
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More Definitions of PENSION PLAN MEMBER

PENSION PLAN MEMBER. (meaning that You are a former member or retired member, as defined in the Ontario Pension Act, of the Pension Plan from which the Locked-In Funds in this LIRA originated).
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Related to PENSION PLAN MEMBER

  • Member contribution means a contribution under regulation 32;

  • Pension Plan means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.

  • Large employer means, in connection with a group health plan or health insurance coverage with

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—