Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she would have been eligible to retire had he continued to work for the Company. Where such employee has ten (10) or more years of seniority, such deferred pension shall include any applicable bridging benefits.
Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she would have been eligible to retire had he continued to work for the Company. Where such employee has ten or more years of seniority, such deferred pension shall Include any applicable bridging benefits. The Company and the Union have agreed to an extension of recall rights to provide that employees shall have the right to recall equal to two (2) times their seniority to a maximum of six (6) years. Former employees with the right to recall would have the right to turn down recall to a temporary job. Recall rights shall be terminatedautomaticallywhen an employee elects to receive severance pay. Preferential Hiring Employees laid off by the Company shall have preferentialhiring rights for a period of time equal to their recall rights. ITEM
Deferred Pension. An employee who loses his seniority under the labor agreement and who at the date he loses his seniority
Deferred Pension. If the Member has completed two years or more of Qualifying Service or a transfer payment in respect of the Member's rights under a Personal Pension Scheme has been received under clause G.1 of the Trust Deed, the Member shall be granted at the Member's option either of the benefits specified at (a) or (b) below. If the Member fails to notify the Trustee in writing of his or her choice within six months of ceasing to be in Pensionable Service, the Member will be deemed to have chosen option (a). (This is without prejudice to the Member's right under s95 1993 Act).
Deferred Pension. IN A Member who of Employment has be entitledto
Deferred Pension. If a Member's Continuous Service is terminated prior to the Member's Normal or Early Retirement Date for any reason other than death, the Member shall be entitled to receive an annual deferred pension from the Plan. The pension shall be payable in equal monthly installments in accordance with the appropriate form of pension payment in Section 8 (Xxxxxx and Forms of Payment), commencing on the Member's Normal or Early Retirement Date. The pension shall be equal to the amount of the pension accrued by the Member up to the date of the Member's termination of employment, computed pursuant to Section 6 (Retirement Benefits). However, if the Member elects to have his or her pension commence prior to the Normal Retirement Date, the pension shall not be reduced pursuant to paragraph (a) of Section 6.02 (Early Retirement Pension), but rather shall be the Actuarial Equivalent of the pension that would have been payable upon the Member's Normal Retirement Date, subject to paragraph (b) of Section 6.05 (Maximum Retirement Limits Under the Income Tax Act).
Deferred Pension. The term “
