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Public Service Superannuation Regulations

Version of section 100 from 2006-03-22 to 2016-06-22:

  •  (1) Subject to the provisions of the Income Tax Act and the Income Tax Regulations, a contributor while employed in the Public Service may elect, once only, under clause 6(1)(b)(iii)(M) of the Act, to pay for a period of transfer value service for which he or she had not previously had an opportunity to elect.

  • (2) An election to pay for transfer value service shall be in writing, in the form prescribed by the Minister and dated and signed by the person making the election.

  • (3) An election shall be sent to the Minister, or to a person designated by the Minister, no later than one year after the later of the date of the written notice sent informing the contributor that he or she has become a contributor under Part I of the Act or the day on which this section comes into force.

  • (4) An election is deemed to be made on the day on which it is received by the Minister, or the person designated by the Minister.

  • (5) Subject to subsection (6), a contributor who elects to pay for only a portion of transfer value service may only be credited with the period that is most recent in point of time.

  • (6) If a contributor elects to pay for only a portion of transfer value service that comprises periods of full-time service and part-time service, the portion elected shall consist of full-time service and part-time service in the same proportions as those used in the determination of the transfer value, based on those periods of service that are most recent in point of time.

  • (7) An election may not be revoked, except in the circumstances set out in paragraph 18(1)(a), or amended.

  • (8) Paragraph 8(5)(a) of the Act applies to an election made under subsection (1).

  • SOR/2003-13, s. 7

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