what does this mean please

pensions-r-us

I need someone to put this in layman terms for me please. The language is from a Career Transfer Terms and Conditions. This pertains to a IntraCompany Transfer from Canada to the U.S. and the Company Pension Plan.

***(this first part I understand)
" Your participation in the Canadian Pension arrangement will cease on your transfer date and you will begin earning a vested benefit in the U.S. pension plan. "All prior service from your Home country will be counted toward vesting and early retirement eligibility in the U.S. Pension Plan"
***(I need explanation for the rest please)
"You will, however, be entitled to deferred vested (accrued) benefit from your Home Country Pension plan" "Your accrued benefit will be indexed annually during employment in U.S. until termination, by the local price inflation rate plus 2% per year."

I think this could be substantial considering 14 years on pension plan in Canada and 17 years on the plan in the U.S.
Thank you for your time and expertise.

AnotherJoe

As I read it you get double bubble. You are treated as if you had worked in the US for the time you were in Canada, but you also get the Canadian benefits separately paid when the time is due as well.
However, IANAL amd I'd pass this by one to double check that.