Pension Transfer Value definition
Pension Transfer Value means the amount determined in accordance with Clause 22.4 which Is equal to the value as at the Concession Commencement Date of the Accrued Rights in respect of those Existing Employees who are employed by the Concessionaire as from the Concession Commencement Date pursuant to Clause 22.1 who on the date immediately preceding the Concession Commencement Date were members of [PENSION] and who consent to or request a transfer of their Accrued Rights from [PENSION] to the pension arrangements to be established by the Concessionaire as referred to In Clause 22.
Examples of Pension Transfer Value in a sentence
In no circumstances shall any dispute between the Municipality and the Concessionaire or relating to the calculation of the Pension Transfer Value be determined by the Disputes Resolution Procedure.