Acts and Regulations

M-7.1 - Members’ Pension Act

Section 7
Disposition versions

Full text
Election and payment
7(1)An election under subsection 6(1) or (3)
(a) shall be made in writing and signed by the member,
(b) shall be forwarded to the Minister within the time specified in subsection 6(1) or (3), and
(c) is irrevocable.
7(2)An amount required to be paid under subsection 6(1) or (3) shall be paid by the member into the Members’ Pension Account
(a) in a lump sum at the time of making the election, or
(b) in instalments together with interest, over a period determined by the Minister, which period shall not exceed the period of pensionable service in respect of which the election is made.
7(3)Subject to subsection (4), where paragraph (2)(b) applies and the member ceases to be a member before all instalments have been paid, the unpaid instalments shall be withheld from any benefit payable under this Part.
7(4)Where the benefit referred to in subsection (3) is payable to the surviving spouse, surviving common-law partner or children of a member, the unpaid instalments shall not be withheld from the benefit unless the surviving spouse, surviving common-law partner or children, as the case may be, desire that the pensionable service represented by the unpaid instalments be used in calculating the benefit.
2000, c.7, s.4; 2008, c.45, s.17
Election and payment
7(1)An election under subsection 6(1) or (3)
(a) shall be made in writing and signed by the member,
(b) shall be forwarded to the Minister within the time specified in subsection 6(1) or (3), and
(c) is irrevocable.
7(2)An amount required to be paid under subsection 6(1) or (3) shall be paid by the member into the Members’ Pension Account
(a) in a lump sum at the time of making the election, or
(b) in instalments together with interest, over a period determined by the Minister, which period shall not exceed the period of pensionable service in respect of which the election is made.
7(3)Subject to subsection (4), where paragraph (2)(b) applies and the member ceases to be a member before all instalments have been paid, the unpaid instalments shall be withheld from any benefit payable under this Part.
7(4)Where the benefit referred to in subsection (3) is payable to the surviving spouse, surviving common-law partner or children of a member, the unpaid instalments shall not be withheld from the benefit unless the surviving spouse, surviving common-law partner or children, as the case may be, desire that the pensionable service represented by the unpaid instalments be used in calculating the benefit.
2000, c.7, s.4; 2008, c.45, s.17
Election and payment
7(1)An election under subsection 6(1) or (3)
(a) shall be made in writing and signed by the member,
(b) shall be forwarded to the Minister within the time specified in subsection 6(1) or (3), and
(c) is irrevocable.
7(2)An amount required to be paid under subsection 6(1) or (3) shall be paid by the member into the Members’ Pension Account
(a) in a lump sum at the time of making the election, or
(b) in instalments together with interest, over a period determined by the Minister, which period shall not exceed the period of pensionable service in respect of which the election is made.
7(3)Subject to subsection (4), where paragraph (2)(b) applies and the member ceases to be a member before all instalments have been paid, the unpaid instalments shall be withheld from any benefit payable under this Part.
7(4)Where the benefit referred to in subsection (3) is payable to the surviving spouse or children of a member, the unpaid instalments shall not be withheld from the benefit unless the surviving spouse or children, as the case may be, desire that the pensionable service represented by the unpaid instalments be used in calculating the benefit.
2000, c.7, s.4