Public Service Superannuation Regulations (C.R.C., c. 1358)

Regulations are current to 2014-09-29 and last amended on 2010-08-03. Previous Versions

 For the purposes of the determinations referred to in sections 68 to 71, the rates of interest determined in accordance with the section “Pension Commuted Values” of the Standards of Practice — Practice-Specific Standards for Pension Plans, published by the Canadian Institute of Actuaries, as amended from time to time, shall be the rates

  • (a) subject to paragraph (b), in respect of fully indexed pensions; and

  • (b) where a contributor is entitled to an annuity or annual allowance pursuant to section 16, 17 or 24.2 of the Act, in respect of unindexed pensions for the period for which no supplementary benefits would be payable under Part III of the Act.

  • SOR/94-194, s. 1;
  • SOR/2007-29, s. 2.

Revision or Revocation of the Election

  •  (1) A contributor who has made an election may revise the level of reduction where

    • (a) the contributor received, in writing, from a person employed in the Public Service whose ordinary duties include the giving of advice respecting the election, materially erroneous or misleading information regarding the amount of the reduction of the contributor’s annuity or annual allowance or the amount of the immediate annual allowance to which the spouse would be entitled; or

    • (b) the amount of the annuity or annual allowance that is payable to the contributor is adjusted in accordance with the Pension Benefits Division Act after the day on which the election was made.

  • (2) A contributor may revoke an election where

    • (a) the contributor received materially erroneous or misleading information referred to in paragraph (1)(a); or

    • (b) the amount of the annuity or annual allowance that is payable to the contributor is adjusted in accordance with the Pension Benefits Division Act after the day on which the election was made.

  • (3) The revision of the level of reduction or the revocation of the election shall be in writing and shall be sent to the Minister or to the person designated by the Minister

    • (a) within three months after the day on which a written notice containing the correct iinformation is sent to the contributor; or

    • (b) within three months after the day on which the annuity or annual allowance is adjusted in accordance with the Pension Benefits Division Act.

  • (4) A revision of the level of reduction or a revocation of the election is effective on the day on which it is sent in accordance with subsection (3).

  • SOR/94-194, s. 1;
  • SOR/97-490, s. 9(E).

 An election ceases to have effect on the earliest of

  • (a) the day on which the spouse dies,

  • (b) the day on which the annulment of the marriage of the contributor and the spouse takes effect, and

  • (c) the day on which the divorce between the contributor and the spouse takes effect.

  • SOR/94-194, s. 1.