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5 (1) Where a contributor has elected to pay in instalments in respect of any period of service for which they have elected to pay into the Superannuation Account
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(a) the first instalment shall be due and payable at the end of the month in which the election made by the contributor has been received by the Minister or by a person designated by the Minister pursuant to paragraph 14(1)(b) and succeeding instalments shall be payable monthly thereafter during the life of the contributor in equal amounts, except with respect to the last instalment which may be less in amount than the preceding instalments,
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computed in accordance with Canadian Life Table No. 2 (1941), Males or Females, as the case may be, with interest at the rate of four per cent per annum;
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(b) they may from time to time amend their payment plan to provide for payment of the instalments still to be paid
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(ii) by larger monthly instalments on a basis similar to that described in paragraph (a) calculated as of the date of the amendment, or
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(iii) by a lump sum and monthly instalments on a basis similar to that described in paragraph (a) calculated as of the date of the amendment and payable within the same or a lesser period than that previously arranged under paragraph (a); and
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(c) in the case of an election involving more than one type or period of service where one or more of those periods is found to be invalid, they may reduce the payment to the minimum required for the valid period or periods of service so long as the period within which they pay for the said valid service is not lengthened.
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(2) Where a contributor defaults in respect of an instalment payable by them, the Minister shall forthwith demand payment from the contributor of the amount in default (except that where a contributor is on leave of absence without pay the Minister shall not make such a demand until they cease to be on leave of absence without pay) and thereupon the amount in default, with interest as provided in subsection (7) to the date of demand, shall be payable,
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as the contributor elects, the value of which, calculated as of the date of election of the contributor under this subsection, in accordance with Canadian Life Table No. 2 (1941), Males or Females, as the case may be, with interest at the rate of four per cent per annum, is the amount that is in default with interest to the date of demand; and if the contributor does not elect within 30 days from the date of the demand, they shall be deemed to have chosen the method specified in paragraph (b).
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(3) A contributor to whom subsection (2) applies, in lieu of making an election under that subsection, may, before the expiration of the 30-day period mentioned therein, elect, subject to the approval of the Minister, to pay the instalments in default, with interest (notwithstanding subsection (7)) at the rate of four per cent per annum from the due date of each defaulted instalment until payment thereof, over a period equal to the period that the contributor is in default, such period to commence
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whichever is later; and if the contributor dies before all of the said instalments, together with interest as provided herein, are paid, the unpaid instalments, together with interest as provided herein, continue to be payable by the contributor into the Superannuation Account.
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(4) Where a contributor has elected to pay an amount in the manner prescribed in paragraph 7(6)(a) of the Act and the amount has not been paid by the contributor within a period of 30 days of the making of the election, the contributor shall be deemed to have elected to pay the said amount or the balance of the said amount then owing, as the case may be, by instalments calculated in accordance with subsection (1).
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(5) Where a contributor ceases to be employed in the public service and becomes entitled to any benefits under the Act or is granted any benefit under the Superannuation Act before the amount payable by them under this section is paid, recovery may be made at any time by retention by way of deduction or set-off out of the benefit payable to the contributor
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as the contributor elects, the value of which, calculated in accordance with Canadian Life Table No. 2 (1941), Males or Females, as the case may be, as of the date on which the contributor ceased to be employed, is the amount payable by them under this section with interest at the rate of four per cent per annum.
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(6) Where at the death of a contributor any amount payable by them into the Superannuation Account is due and payable and is not paid, the Minister shall, if the amount with interest as provided in this section is not forthwith paid by the personal representative of the contributor, demand payment from the widow and children, or one or more of them, of the contributor, to whom an allowance is payable under the Act and if the amount which is due and payable with interest to the date of demand is not paid, it may be recovered at any time and, without prejudice to any other recourse available to Her Majesty with respect to the recovery thereof, recovery may be made at any time by retention, by way of deduction or set-off out of the allowance payable to the widow and children, or one or more of them,
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as the recipient elects, with interest at the rate of four per cent per annum.
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(9) For the purposes of this section, a demand by the Minister for payment of an amount is deemed to have been made on the day on which a letter, demanding payment, signed by or on behalf of the Minister, and addressed to the contributor or recipient, as the case may be, is placed in the mail.
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(11) Where a contributor has elected to pay in instalments in respect of any period of service for which they have elected to pay to the Superannuation Account and any of the monthly instalments payable under the payment plan, with the exception of the last instalment, is less than $1, the Minister may amend the payment plan in such manner so as to provide that each monthly instalment, except the last instalment, shall be $1.