Public Service Superannuation Act

Marginal note:Amount of contributions

53 Every participant shall contribute to the Consolidated Revenue Fund at the rate of fifteen cents per month for every thousand dollars in the amount of the participant’s basic benefit (reduced, if the participant has attained the age of sixty-five years and is employed in the public service, having been so employed substantially without interruption for two years or more or having been a participant under this Part without interruption for two years or more, by one dollar and fifty cents per month, commencing as of the time that the regulations prescribe, being the contribution otherwise payable under this Part for the basic benefit in the amount of ten thousand dollars referred to in the definition “basic benefit” in subsection 47(1)) or, in the case of elective participants and participants who are absent from duty, any contribution that the regulations prescribe.