Reserve Force Pension Plan Regulations

Marginal note:Election not made

• 24 (1) A past earnings election is deemed not to have been made

  • (a) in the case of an election to count earnings as pensionable earnings from a period after December 31, 1989, if the Minister of National Revenue refuses to issue a certification under paragraph 147.1(10)(a) of the Income Tax Act;

  • (b) at the request of the person who made the election if they received erroneous or misleading information in writing, with respect to the amount to be paid or the consequences of the election on their benefits, from a person whose normal duties include giving information about those matters, and, in making the election, they acted on that information; or

  • (c) if the person who made the election has not paid the amount to be paid under subsection 16(1) within the required period.

• Marginal note:Refund

  (2) If a past earnings election is deemed not to have been made, any payments received from a plan, fund, or institution of a type referred to in paragraph 61(1)(a) shall be transferred to a plan, fund, or institution, of any type referred to in that paragraph, at the direction of the person who made the election.

• Marginal note:New election

  (3) Despite the expiry of the period for making the election, the person may make an election no later than 90 days after the later of

  • (a) the day on which the election is deemed, under paragraph (1)(b), not to have been made; and

  • (b) the date of the notice informing the person of the refusal by the Minister of National Revenue.

• Marginal note:No election after second refusal

  (4) In the case of another refusal, the person shall not make the election.