Automatic Form of Pension. A member who has a spouse and who is not living separate and apart from his or her spouse on the date of his retirement, shall be deemed to have elected a joint and survivorship pension providing for the continuation of at least 60% of his pension to his spouse after his death unless both the member and his spouse sign a form waiving the election of such option. The amount of the pension payable under this automatic form of pension shall be adjusted so as to represent the actuarial equivalent value of the pension payable under the normal form of pension described in paragraph a) above.
Appears in 2 contracts
Sources: Labour Agreement, Labour Agreement