Canadian Forces Superannuation Act
Marginal note:Period to exercise option under former provisions
23 (1) A contributor who ceases to be a member of the regular force before the coming into force of this section and has not exercised their option in favour of a benefit under sections 16 to 22, as those sections read immediately before that coming into force, may, in accordance with the provisions of this Act as it read immediately before that coming into force, exercise that option at any time within one year after the day on which they cease to be a member.
Marginal note:Failure to exercise option
(2) If a contributor fails to exercise an option within the period set out in subsection (1), they are deemed to have exercised it in favour of a deferred annuity.
Marginal note:Becoming a contributor under other Acts
(3) If a contributor becomes a contributor under the Public Service Superannuation Act or the Royal Canadian Mounted Police Superannuation Act without having exercised, or been deemed to have exercised, an option referred to in subsection (1), they are deemed to have exercised it immediately before becoming a contributor under whichever of those Acts is applicable in favour of a deferred annuity.
- R.S., 1985, c. C-17, s. 23
- 2003, c. 26, s. 14
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