Acts and Regulations

2012-75 - Shared Risk Plans

Full text
Base benefits
5(1)A shared risk plan may provide the following base benefits
(a) a pension paid to former members for their lifetime or payable to members at the normal retirement date and for their lifetime;
(b) escalated adjustments applied to the pension for past periods up to the relevant date, including those paid or payable to members and former members; and
(c) vested ancillary benefits at the relevant date, including those paid or payable to former members who have terminated employment or retired.
5(2)If escalated adjustments are granted or ancillary benefits are vested, they become part of the base benefits.