Reduced benefits

If you elect to retire before your earliest unreduced retirement date (called your Optional Retirement Date), your monthly pension payment (including your monthly bridging benefit) will be permanently reduced. This reduction reflects the fact that you are starting to receive your pension earlier than the date allowed under the Plan for an unreduced pension.

The amount of pension you earned at your date of leaving is reduced by ½ of 1% (0.5%) for every month that your Early Retirement Date precedes your Optional Retirement Date.