Royal Canadian Mounted Police Superannuation Regulations

Version of section 57 from 2012-09-01 to 2020-07-28:

  •  (1) Subject to subsection (2) and section 58, a contributor who ceased to be a member of the Force before the day on which this section comes into force and who wishes to exercise an option for a transfer value must do so on or before the later of

    • (a) one year after the day on which this section comes into force, and

    • (b) the day that is six months after the day on which the Minister sends a written notice to the contributor stating that the contributor is entitled to exercise an option for a transfer value.

  • (2) A contributor described in subsection (1) may exercise an option for a transfer value after the day provided for in that subsection, but within the period prescribed by subsection (4), if the contributor establishes that the notice referred to in paragraph (1)(b) was not received.

  • (3) If a contributor establishes that the notice referred to in paragraph (1)(b) was not received, the Minister shall immediately send a written notice to the contributor stating that the contributor is entitled to exercise an option for a transfer value.

  • (4) An option may be exercised within three months after the day on which the notice referred to in subsection (3) is sent, but in no case may an option be exercised after the contributor has commenced to receive an annuity or an annual allowance under the Act in respect of the contributor’s pensionable service.

  • SOR/2003-232, s. 2
  • SOR/2012-124, ss. 31, 32(E)
Date modified: