BOILERMAKERS’ NATIONAL PENSION PLAN (CANADA)

The Employer shall contribute an amount, in cents-per-hour in accordance with the Wage and Benefit Schedule as set out in the Appendix attached hereto, to the Boilermakers' National Pension Plan (Canada) for all hours earned, including waiting and reporting time, by all employees covered by this Agreement. Contributions on all overtime hours shall be calculated at the applicable overtime rate (i.e. 1 ½ or 2). On November 30th, 2022 the employer shall cease pension contributions to the Boilermakers' National Pension Plan (Canada), on behalf of those employees who are 71 years of age or older. The pension contributions that would otherwise be payable to the Boilermakers' National Pension Plan (Canada) will be paid on behalf of the applicable employee to the Boilermakers' National Health Plan (Canada). The computation of the amount payable will be in accordance with the provisions for pension contributions applicable to all other employees covered under the terms of this agreement. In the event the employer, in error, makes pension contributions beyond the November work month on behalf of an employee who is 71 years of age or older, the administrator of the Boilermakers' National Pension Plan (Canada) will allocate the applicable contributions to the employee’s account in the Boilermakers' National Health Plan (Canada).