12) The normal retirement date
is a term defined in the plan and is customarily age 65.
In this case, a member wishing to receive 24 months in a lump sum must delay retirement for at least 24 months beyond the normal retirement date
L10YR is the average of the 5 highest years of earnings 10 years prior to the normal retirement date
specified in the pension plan; L5YR is the average of the 3 highest years of earnings 5 years prior to the pension plan's normal retirement date
The amount was based on his salary as an employee of the oil group until his normal retirement date
in June 2005, Shell said.
The damages she is claiming amount to more than pounds 200,000, based on the loss of earnings she would have received up to her normal retirement date
and compensation for the distress she claims she has suffered.
Therefore, in order to accomplish the desired goal of deferring income tax, vesting typically is delayed until the executive has completed some minimum period of service, has reached the normal retirement date
, has completed the term of an executive employment agreement, or has reached another similar milestone.
Occupational schemes -- to be exempt, an employer must ensure that its occupational scheme must be open to all relevant employees who are more than five years away from their normal retirement date
, and the maximum waiting period for entry to the scheme cannot be greater than 12 months.
A couple of months before your normal retirement date
, you should receive your options pack.
Some lenders will now lend beyond normal retirement date
, and may be able to do this for you as you are presumably going to be in receipt of a guaranteed pension from your employers.
For example, early retirement factors determine how much of a discount will be applied to that member's year on year pension if they take their pension before normal retirement date
The Board has a policy of writing to its employees six months prior to their normal retirement date
, giving them the right to request not to be retired.