Service credited for pension purposes. Plan members earn one full month of pensionable service when they work at least one day per month. Pensionable service is used to determine the amount of a commuted value and a pension.
Formerly Credited Service. The service in the CAAT Pension Plan that is used in calculating a pension benefit, calculated in years and months. If a Member has purchased service or Transferred in Service, that extra service is included in the calculation.
The length of time you worked for an employer that is used in calculating pension benefits from a pension scheme.
The total time spent working, which counts toward your benefit. It is usually the total number of years you contributed to the plan, up to the date of retirement.
The period of service which is taken into account in calculating benefits. PSA93 gives the term a statutory definition for the purposes of the preservation, revaluation and transfer payment requirements of the Act. PA95 gives a further statutory definition.
Pensionable Service is the period you have been a member of the scheme including any time transferred from another scheme.
The period of service with an employer that is used in calculating pension benefits from an occupational pension scheme.
A definition in a pension scheme of the nature and period of service to be taken into account in determining eligibility for membership of the scheme and the extent of pension entitlement.
Years of eligible service after the later of January 1, 1992 and the date of hire with The City of Calgary.
Period of service with a company that is used in the calculation of pension benefits.
The amount of years of service a member has accrued in a pension plan
