Marginal note:Unadjusted pensionable earnings for a year
53 Subject to section 54, the unadjusted pensionable earnings of a contributor for a year are an amount equal to
(a) the aggregate of
(i) his contributory salary and wages for the year, and
(ii) his contributory self-employed earnings for the year in the case of an individual described in section 10,
(b) the aggregate of
(i) his earnings on which a contribution has been made for the year under this Act, calculated as the aggregate of
(A) his salary and wages on which a contribution has been made for the year, and
(B) the amount of any contribution required to be made by the contributor for the year in respect of the contributor’s self-employed earnings divided by the contribution rate for self-employed persons for the year,
(ii) his earnings on which a contribution has been made for the year under a provincial pension plan, calculated as the aggregate of
(A) such amount as is determined in prescribed manner to be his salary and wages on which a contribution has been made for the year by him under a provincial pension plan, and
(B) the amount of any contribution required to be made by the contributor for the year under a provincial pension plan in respect of the contributor’s self-employed earnings divided by the contribution rate for self-employed persons for the year, and
(iii) his basic exemption for the year, or
(c) his maximum pensionable earnings for the year,
whichever is the least, except that where the amount calculated as provided in paragraph (a) is equal to or less than the amount of his basic exemption for the year, his unadjusted pensionable earnings for that year shall be deemed to be zero.
- R.S., 1985, c. C-8, s. 53
- R.S., 1985, c. 30 (2nd Supp.), s. 20
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