LTDI Benefit Amount
This directive sets out the benefit amount to which employees are entitled and reductions to the benefit amount under the Long Term Disability Income (LTDI) Continuance Plan.
The benefit amount to which an employee is entitled will be 70 percent of the employees pre-disability salary which is effective on completion of the elimination period.
The bi-weekly benefit amount to which an employee is entitled will be reduced by:
If an employee receives any of these amounts in the form of a lump sum payment instead of bi-weekly installments, the employees benefits will be reduced by the equivalent commuted bi-weekly installments.
An employee must apply for Canada Pension Plan or Quebec Pension Plan disability benefits within 12 months of being placed on the plan and must provide proof of application to the plan administrator. If an employee does not apply for benefits after reasonable notice to do so, the maximum Canada Pension Plan or Quebec Pension Plan disability benefit may be deducted.
About this Directive