Retiring Allowance definition

Retiring Allowance means a lump sum payment by way of a bonus, gratuity or other allowance in respect of the full-time employment of a person made on the occasion of his retirement from that employment;

Retiring Allowance means the lump sum paid to an officer for accrued and pro-rata leave entitlements payable at the date of retirement.

Retiring Allowance shall have the meaning set out in Section 2.5(b);

Examples of Retiring Allowance in a sentence

• This payment will be in addition to any grant under the Retiring Allowance provisions specified in this award.

• The Company agrees and the Union acknowledges that upon retirement an employee who was a member of either bargaining unit as of March 17, 2009 will be given the option of a paid-up Life Insurance, as determined by the current insurance carrier, or an amount equivalent to the premium of the paid-up Life Insurance to be transferred to a locked-in or non-locked in R.R.S.P. of the individual's choice as a Retiring Allowance.

• For employees with Company Service earned prior to January 1, 2005, the days accumulated up to December 31, 2004 will be retained in an individual Retiring Allowance Bank.

• The Company agrees and the Union acknowledges that upon retirement an employee will be given the option of a paid-up Life Insurance, as determined by the current insurance carrier, an amount equivalent to the premium of the paid-up Life Insurance to be transferred to a locked-in or non-locked in R.R.S.P. of the individual's choice as a Retiring Allowance.

• Effective Date of the Retiring Allowance Bridge Arrangement - May 5, 2010.

More Definitions of Retiring Allowance

Retiring Allowance means an amount, other than an amount received as a consequence of the death of an employee, a pension benefit or a benefit referred to in the third paragraph of section 38 in respect of counselling services described therein, received by a taxpayer or, after the taxpayer’s death, by a dependent or a relative of the taxpayer or by the legal representative of the taxpayer

Retiring Allowance means a payment that, by a contract of employment, an employee may receive on or after retirement of the employee from his or her employment in recognition of the employee's service, but does not include the following:

Retiring Allowance means a retiring allowance payable under regulation E2 (entitlement to retirement pension and retiring allowance) of the Local Government (Superannuation) Regulations (Northern Ireland) 1992(12);”;

Retiring Allowance means a retiring allowance, payable in a lump sum, equal to the lesser of (i) 36 months of the Executive’s Regular Monthly Compensation or (ii) the number of months of the Executive’s Regular Monthly Compensation in the period commencing with the Executive’s Termination Date and ending on the Executive’s Normal Retirement Date[; provided, however, that effective December 12, 2006, Retiring Allowance shall mean a retiring allowance, payable in a lump sum, equal to 36 months of the Executive’s Regular Monthly Compensation].

Retiring Allowance means the amounts payable to the Executive pursuant to the terms of this Agreement;

Retiring Allowance. In accordance with Canada Revenue Agency guidelines and with reference to Article 14.1 a retiring allowance is an amount paid to Employees at the time they leave or lose employment. A retiring allowance does not include pay in lieu of notice.

Retiring Allowance. , in relation to a person, means the retiring allowance payable to the person under this Act and, in the case of a person who ceased or ceases to be a member after 30 June 1980, includes additional retiring allowance (if any) payable to the person under subsection 18(9).