Reserve Force Pension Plan Regulations

Marginal note:Election not made

• 33 (1) A transfer value 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 no payment is received by the Minister within the required time.

• Marginal note:Refund

  (2) 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 date of the notice informing the person of the refusal by the Minister of National Revenue. In the case of another refusal, the person shall not make an election.