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Memo from the president about pensions and rules and regulations of the Pension Department at the Canadian… Canadian Pacific Railway Company. Pension Department Dec 8, 1902

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 CANADIAN PACIFIC  RAILWAY COMPANY
OFFICE OF THE PRESIDENT
Montreal, December 8th, 1902.
The Company feels that a time has arrived when
some provision should be made for Officers and permanent employees who, after long years of faithful service,
have reached an age when they are unequal to the further
performance of their duties. With this object in view,
the Directors, with the approval of the shareholders,
have, after a careful study of the question, determined
upon a plan of superannuation, the particulars of which
are set out in the accompanying rules and regulations.
The system adopted calls for no contributions from
the employees themselves.
The Company hopes, by thus voluntarily establishing
a system under which a continued income will be assured
to those who after years of continuous service are by
age or infirmity no longer fitted to perform their duties,
and without which they might be left entirely without
means of support, to build up amongst them a feeling
of permanency in their employment, an enlarged interest
in the Company's welfare, and a desire to remain in and
to devote their best efforts and attention to the Company's service.
T. G. Shatjghnessy,
President. CANADIAN PACIFIC   RAILWAY COMPANY
PENSION DEPARTMENT
RULES AND REGULATIONS
1.—The administration of the Pension Department
shall be under the direction of a Committee to be composed of the following Officers of the Company :—
THE PRESIDENT.
THE VICE-PRESIDENTS.
THE CHIEF SOLICITOR.
A SECRETARY shall be appointed who shall have
charge of the records of the Department.
The PRESIDENT of the Company shall be ex officio
Chairman of the Committee.
2.—The office of the Pension Department shall be at
Montreal.
3.—All Communications should be addressed to the
Pension Department.
4.—Meetings of the Committee shall be held at 10
o'clock in the morning of the first Monday in each month.
Other meetings may be held if necessary at the call of
the Secretary. 5.—The Committee shall have power :
To make and enforce rules and regulations for the
efficient operation of the Pension Department;
To determine the   eligibility of employees to
receive pension allowances;
To fix the amount of such allowances ; and
To prescribe the conditions under which such
allowances may inure.
They shall make rules for their own government
not inconsistent with these regulations, and
from time to time, as required, make reports
of their action to the Board of Directors of
the Company.
The proceedings of the Committee shall be subject
to the approval of the Board.
6.—The benefits of the Pension System shall apply
only to those persons who have been required to give
their entire time to the Company, or to the Company and
some other Company or Companies jointly. In cases of
joint employment, and when the whole salary is not paid
by this Company, the pension to be paid by this Company shall be estimated upon the proportion of salary
or wages received from this Company.
7.—All Officers and employees who have attained the
age of sixty-five years shall be retired, and such of said
Officers and employees who have been ten years or longer
in the Company's service shall be pensioned.
The Committee, however, shall have power to vary
the foregoing rule and retain in the service any employee
who has reached the age of sixty-five years if in their
opinion it is in the interest of the Company to do so; provided, however, that no employee who has^ reached
the age of sixty-five years without having served ten
years continuously in the Company's service, and who
shall be retained in the service after he attains the age
of sixty-five years, shall be eligible for pension allowance.
8.—Officers and employees between the age of sixty
and sixty-five may, at the discretion of the Committee,
he retired with a pension either upon the application of
such employee or upon the recommendation of the Head
of the Department,
The Committee shall have power, subject to the
approval of the Board of Directors, to retire with a pension, in special circumstances, employees who have not
reached the age of sixty years, and also subject to like
approval, to add additional years to the actual term of
service when there is sufficient cause for doing so.
Physical examination shall be made of employees
recommended for retirement who are under sixty-five
years of age, and a report with the recommendation of
the Company's Surgeon shall be transmitted to the Committee for consideration in dealing with such cases.
Six months' previous notice shall be given to employees who are to be compulsorily retired.
9.—Retirement shall be made effective from the first
days of January or July in each year.
10.—The terms " service " or " in the service " shall
refer to employment upon or in connection with any
other Railway, Express Company, or Steamship Line
operated or controlled by the Company, and the service
of any employee shall be considered as continuous from
the date since which he has been continuously employed
upon such Railway,  Express Company,  or Steamship Line; whether prior or subsequent to their control or
acquisition by the Canadian Pacific Railway Company;
provided, however, that in no case shall such service be
counted for any period prior to the incorporation of the
Canadian Pacific Railway Company.
11.—In computing service it shall be reckoned from
the day since which the person has been in the service
to the date when retired.
12.—Leave of absence, suspension, dismissal followed
by reinstatement within one year, or a temporary lay-off
on account of reduction of forces, need not necessarily be
treated by the Committee as constituting a breach in the
continuity of the service, and the time when so laid off
or absent, unless the employee has during such absence
entered other employment, may be allowed by the Committee to count as part of such service.
%
Persons voluntarily leaving the employment of the
Company when their services are required thereby become ineligible for pension allowance.
13,—The pension allowance authorized shall be
granted upon the following basis:—
For each year of service an allowance of one per cent,
of the average monthly pay received for the ten years
preceding retirement, or preceding the date upon which
the employee attained the age of sixty-five years, should
he be retained in the service after such date; for example,
an employee has been in the service for forty years and
received on an average for the last ten years sixty dollars
per month, the pension allowance would be forty per
cent, of sixty dollars, or twenty-four dollars per month. 6
No pension allowance authorized, however, «hall be
less than twenty dollars per month.
In calculating the period of service upon which the
pension allowance is based, the broken period following
the completion of a year, when it is less than six months,
shall not be counted; when it exceeds six months, it shall
count as an additional year.
14.—When pension allowances are authorized, pursuant to these regulations, they shall be paid monthly
during the life of the beneficiary; provided, that the
Company may cancel any pension whenever it is established in the opinion of the Pension Committee that the
pensioner displays a decided lack of appreciation of the
Company's liberality in granting the pension, or is guilty
of other serious misconduct.
15.—Pay-rolls covering all pension allowances, showing the names of those to whom such allowances have
been made and the amount of such allowances, shall be
prepared at the close of each month by the Secretary of
the Department; shall be certified by him ; shall be
countersigned by at least one member of the Committee;
and shall be forwarded to the Accounting Department
for registration and payment.
16.—The Officer in charge of the Staff Records of the
Company shall report to the Pension Department on the
first days of January and July in each year, the names
with the particulars of service of all employees who will
attain, during the ensuing six months, the requisite age
for consideration for a pension allowance.
17.—The Secretary of the Pension Department shall
keep himself informed of the whereabouts of all employees
who have been retired from the service, and shall require satisfactory evidence from each of such employees, at
least once a year, that he still comes within the rules of
the Pension Department.
18.—Tn order that the direct personal relations between the Company and its retired employees may be
preserved and that they may continue to enjoy the
benefit of the Pension System, no assignment of pensions
will be permitted or recognized.
19.—The acceptance of a pension allowance does not
debar a retired employee from engaging in other business,
but such retired employee cannot so engage in other
business nor re-enter the service of the Company, except
with the consent of the Committee, without forfeiting
his pension allowance.
20.—The establishment and continuance of this
system of pensions is entirely a voluntary act on the
part of the Company, and as the employees do not in any
way contribute towards it, neither the action of the
Board of Directors in establishing such a system, nor
any other action now or hereafter taken by them or by
the Committee in the inauguration or operation of the
Pension Department, shall be construed as giving to any
Officer or employee of the Company a legal right to be
retained in its service, or any legal right or claim to
pension allowance. While it is the policy of the Company to encourage its employees to remain with it and by
faithful service to earn a pension, the Company expressly
reserves its right and privilege to discharge at any time
any Officer, Agent, or employee when the interests of the
Company, in its judgment, may so require, without
liability for any claim for pension or other allowance
than the salary or wages due and unpaid. 21.—These rules and regulations shall take effect on
January 1st, 1903, and may be altered or repealed from
time to time as the Committee, subject to the approval
of the Board, may hereafter determine.
\   Revised to February 9th, 1915. X
Canadian Pacific Railway Company,
OFFICE OF THE PRESIDENT
Montreal, December 8th, 1902.
The Company feels that a time has arrived when some
provision should be made for Officers and permanent employees
who, after long- years of faithful service, have reached an age
when they are unequal to the further performance of their duties.
With this object in view, the Directors, with the approval of
the shareholders, have, after a careful study of the question,
determined upon a plan of superannuation, the particulars of
which are set out in the accompanying- rules and regulations.
The system adopted calls for no contributions from the
employees themselves.
The Company hopes, by thus voluntarily establishing a
system under which a continued income will be assured to those
who after years of continuous service are by age or infirmity no
\      longer fitted to perform their duties,   and  without which they
\
might be left entirely without means of support, to build up
amongst them a feeling* of permanency in their employment,
an enlarged interest in the Company's welfare, and a desire to
remain in and to devote their best efforts and attention to the
Company's service.
j^ President,    y^r I Ganadian Pacific Railway Company
P. F. 0.
PENSION   DEPARTMENT.
RULES    AND    REGULATIONS.
1. The administration of the Pension Department shall be under the direction of
a Committee to be composed of the following Officers of the Company:—
THE PRESIDENT.
THE VICE-PRESIDENTS.
THE CHIEF SOLICITOR.
A SECRETARY shall be appointed who shall have charge of the Records
of the Department.
The PRESIDENT of the Company shall be ex officio Chairman of the Committee.
2. The office of the Pension Department shall be at Montreal.
S. All communications shall be addressed to the Pension Department.
4. Meetings of the Committee shall be held at 10 o'clock in the morning of the
first Monday in each month. Other meetings may be held if necessary at the call
of the Secretary.
5. The Committee shall have power :
To  make and enforce rules and regulations for the efficient operation
of the Pension Department;
To determine the eligibility of employees to receive pension allowances
To fix the amount of such allowances ; and
To prescribe the conditions under which such allowances may inure.
They shall make rules for their own government not inconsistent with
these regulations, and from time to time, as required, make reports
of their action to the Board of Directors of the Company.
The proceedings of the   Committee shall be subject to the approval of  the
Board.
6. The benefits of the Pension System shall apply only to those persons who have
been required to give their entire time to the Company, or to the Company and
some other Railway Company or Railway Companies jointly. In cases of joint
employment, and when the whole salary is not paid by this Company, the Pension to
be paid by this Company shall be estimated upon the proportion of salary or wages
received from this Company.
7. All Officers and Employees who have attained the age of sixty-five years
shall be retired, and such of said Officers and Employees who have been ten years or
longer in the Company's service shall be pensioned.
The Committee, however, shall have power to vary the foregoing rule and
retain in the service any Employee who has reached the age of sixty-five years if
in their opinion it is in the interest of the Company to do so; provided, however,
that no employee who has reached the age of sixty-five years without having served
ten years continuously in the Company's service, and who shall be retained in the
service after he attains the age of sixty-five years, shall be eligible for pension
allowance. 1
A{e&~c
far- 8. Officers and Employees between the age of sixty and sixty-five may, at the
discretion of the Committee, be retired with a pension either upon the application
of such Employee or upon the recommendation of the Head of the Department.
Under special circumstances the Committee shall have the power to retire with"
a pension employees who have not reached the age of sixty years, and the Committee
shall also have the power in special cases to add additional years to the actual term
of service, provided that in each case the approval of the Board shall have been first
obtained.
Physical examination shall be made of Employees recommended for retirement
who are under sixty-five years of age, and a report with the recommendation of the
Company's Surgeon shall be transmitted to the Committee for consideration in dealing
with such cases.
Six months' previous notice shall be given to employees who are to be
compulsorily retired.
9. Retirement shall be made effective from the first days of January or July in
each year.
10. The terms " service " or " in the service " shall refer to employment upon or
in connection with any other Railways operated by the Company, and the service of
any employee shall be considered as continuous from the date since which he has
been continuously employed upon such Railways, whether prior or subsequent to
their control or acquisition by the Canadian Pacific Railway Company ; provided,
however, that in no case shall such service be counted for any period prior to the
incorporation of the Canadian Pacific Railway Company.
11. In computing service it shall be reckoned from the day since which the
person has been in the service to the date when retired.
12. Leave of absence, suspension, dismissal followed by reinstatement within one
year, or a temporary lay-off on account of reduction of forces, need not necessarily
be treated by the Committee as constituting a breach in the continuity of the service,
and the time when so laid off or absent, unless the employee has during such absence
entered other employment, may be allowed by the Committee to count as part of such
service.
Persons voluntarily leaving the employment of the Company when their
services are required thereby become ineligible for pension allowance.
13. The Pension Allowance authorized shall be granted upon the following basis :
For each year of service an allowance of one per cent of the average monthly
pay received for the ten years preceding retirement. For instance, an employee has
been in the service for forty years and received on an average for the last ten years
fifty dollars per month, the Pension Allowance would be forty per cent of fifty
dollars, or twenty dollars per month.
In calculating the period of service upon which the Pension Allowance is based,
the broken period following the completion of a year, when it is less than six months,
shall not be counted, when it exceeds six months it shall count as an additional year.
2 /
14. When pension allowances are authorized, pursuant to these regulations, they
shall be paid monthly during the life of the beneficiary, provided, however, that
the Company may cancel any pension in case of gross misconduct on the part of the
Pensioner.
15. Pay-rolls covering all Pension Allowances, showing the names of those to
whom such allowances have been made and the amount of such allowances, shall be
prepared at the close of each month by the Secretary of the Department ; shall be
certified by him ; shall be countersigned by at least one member of the Committee ;
and shall be forwarded to the Accounting Department for registration and payment.
16. The Officer in charge of the Staff Records of the Company shall report to
the Pension Department on the first days of January and July in each year, the
names with the particulars of service of all employees who will attain, during the
ensuing six months, the requisite age for consideration for a Pension Allowance.
17. The Secretary of the Pension Department shall keep himself informed of the
whereabouts of all employees who have been retired from the service, and shall
require satisfactory evidence from each of such employees, at least once a year, that
he still comes within the rules of the Pension Department.
18. In order that the direct personal relations between the Company and its retired
employees may be preserved and that they may continue to enjoy the benefit of the
Pension System, no assignment of Pensions will be permitted or recognized.
19. The acceptance of a Pension Allowance does not debar a retired employee
from engaging in other business, but vsuch retired employee cannot so engage in other
business nor re-enter the service of the Company, except with the consent of the
Committee, without forfeiting his Pension Allowance.
20. The establishment and continuance of this system of pensions is entirely a
voluntary act on the part of the Company, and as the employees do not in any way
contribute towards it neither the action of the Board of Directors in establishing such
a system, nor any other action now or hereafter taken by them or by the Committee in
the inauguration or operation of the Pension Department, shall be construed as giving
to any Officer or Employee of the Company a legal right to be retained in its service,
or any legal right or claim to Pension Allowance. While it is the policy of the
Company to encourage its employees to remain with it and by faithful service to-
earn a pension, the Company expressly reserves its right and privilege to discharge
at any time any Officer, Agent or Employee, when the interests of the Company, in
its judgment, may so require, without liability for any claim for Pension or other
Allowance than the salary or wages due and unpaid.
21. These rules and regulations shall take effect on January 1st. 1903, and may
be altered or repealed from time to time as the Committee, subject to the approval
of the Board, may hereafter determine,
Montreal, November 10th, 1902.

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