Marginal note:55 years of age and 10 years in office
43.1 (1) A judge who has attained the age of 55 years, has continued in judicial office for at least 10 years and elects early retirement shall be paid an immediate annuity or a deferred annuity, at the option of the judge, calculated in accordance with this section.
Marginal note:Calculation of amount of deferred annuity
(2) The amount of the deferred annuity shall be two thirds of the amount of the salary annexed to the judge’s office at the time of the election multiplied by a fraction of which
(a) the numerator is the number of years, to the nearest one tenth of a year, during which the judge has continued in judicial office, and
(b) the denominator is the number of years, to the nearest one tenth of a year, during which the judge would have been required to continue in judicial office in order to be eligible to be paid an annuity under paragraph 42(1)(a) or (b).
Marginal note:Immediate annuity
(3) If a judge exercises the option to receive an immediate annuity, the amount of that annuity is equal to the amount of the deferred annuity, reduced by the product obtained by multiplying
(a) five per cent of the amount of the deferred annuity
(b) the difference between sixty and his or her age in years, to the nearest one-tenth of a year, at the time he or she exercises the option.
Marginal note:Second exercise of option
(4) A judge whose option was to receive a deferred annuity may, between the date of that option and the date on which the deferred annuity would be payable, opt for an immediate annuity. An immediate annuity shall be paid to the judge from the date of the second option.
Marginal note:Survivor’s annuity
(5) On the death of a judge who has been paid an immediate annuity or a deferred annuity under subsection (1) or (4), the annuity paid to a survivor under subsection 44(2) shall be determined as if the judge were in receipt of a deferred annuity.
(6) The definitions in this subsection apply in this section.
- deferred annuity
deferred annuity means an annuity that becomes payable to a judge at the time that he or she reaches sixty years of age and that continues to be paid during the life of the judge. (pension différée)
- immediate annuity
immediate annuity means an annuity that becomes payable to a judge at the time that he or she exercises an option to receive the annuity and that continues to be paid during the life of the judge. (pension immédiate)
- judicial office
judicial office includes the office of a prothonotary of the Federal Court. (magistrature)
- 2001, c. 7, s. 21
- 2006, c. 11, s. 12
- 2014, c. 39, s. 323
- 2017, c. 33, s. 240
- Date modified: