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A BY-LAW OF THE TOWNSHIP OF PICKERING TO AMEND BY-LAW NUMBER 1876, WHICH
PROVIDES FOR PENSIONS TO EMPLOYEES.
WHEREAS the Township of Pickering is the purchaser under Group Annuity
Con ract No. G. 956 entered into under the provisions of the Government
Annuities Act and in pursuance of an agreement entered into between
Purchaser and its employees on that behalf, hereinafter referred to as
the "Pension Plan";
AND WHEREAS the Minister of Labour and the Minister of Municipal Affairs
have agree to vary the terms of a contract to provide that an employee
registered thereunder may surrender his rights to the payment of an annuity
under circumstances as hereinafter described;
AND WHEREAS pursuant to an amendment to the agreement above ze ferred to
e wean a Township of Pickering and such of its employees as may be
affected thereby, the said Township is desirous of varying the terms of
the Contract as hereinafter described in Schedule "A";
BE IT THEREFORE ENACTED by the Municipal Council of the Corporation of
the Township of P c er ng that the terms of Group Annuity Contract No.G?956
shall be as set out in the attached Schedule "A", and that
1. Schedule "A" of By-law No. 1876 be and it is hereby repealed,
2. This By-law is subject to the approval of the Department of
Municipal Affairs and in agreement with the Minister of Labour.
BY-LAW read a First and Second time this ``Z'?9? day of &1L1955
BY-LAW read a third time and PASSED this /2 Z/ day of 1955•
... .. .. ...
Reeve.
.Clerk.