Acts and Regulations

M-8 - Members Superannuation Act

Section 10.2
Disposition versions

Full text
Additional adjustments, application of section
10.2(1)Subject to subsection (4), the first ten thousand dollars of pension under this Act expressed in annual terms as of June 30, 1981, or the amount of pension payable as of that date where the amount of pension is less than ten thousand dollars, shall be further adjusted as of July 1, 1981, by multiplying that amount by the percentage that is equal to the difference between
(a) the percentage adjustment that represents eighty per cent of the compounded ratio that the pension index for the year 1981 bears to the pension index for the year 1973, or for the year in which a pension was first received where the pension was first received after 1973, and
(b) the compounded percentage increase with respect to the same period pursuant to subsection 10.1(3).
10.2(2)Every pension adjusted in accordance with subsection (1) shall be further adjusted as of the first day of each year, beginning January 1, 1982 by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
10.2(3)Repealed: 2013, c.44, s.27
10.2(4)This section applies to pensions being received under this Act immediately prior to January 1, 1981, and still being received on July 1, 1981.
1981, c.41, s.1; 2013, c.44, s.27
Additional adjustments
10.2(1)Subject to subsection (4), the first ten thousand dollars of pension under this Act expressed in annual terms as of June 30, 1981, or the amount of pension payable as of that date where the amount of pension is less than ten thousand dollars, shall be further adjusted as of July 1, 1981, by multiplying that amount by the percentage that is equal to the difference between
(a) the percentage adjustment that represents eighty per cent of the compounded ratio that the pension index for the year 1981 bears to the pension index for the year 1973, or for the year in which a pension was first received where the pension was first received after 1973, and
(b) the compounded percentage increase with respect to the same period pursuant to subsection 10.1(3).
Additional adjustments
10.2(2)Every pension adjusted in accordance with subsection (1) shall be further adjusted as of the first day of each year, beginning January 1, 1982 by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
“Pension index” defined
10.2(3)In this section “pension index” has the same meaning as it has in section 8 of the Public Service Superannuation Act.
Application of section
10.2(4)This section applies to pensions being received under this Act immediately prior to January 1, 1981, and still being received on July 1, 1981.
1981, c.41, s.1
Additional adjustments
10.2(1)Subject to subsection (4), the first ten thousand dollars of pension under this Act expressed in annual terms as of June 30, 1981, or the amount of pension payable as of that date where the amount of pension is less than ten thousand dollars, shall be further adjusted as of July 1, 1981, by multiplying that amount by the percentage that is equal to the difference between
(a) the percentage adjustment that represents eighty per cent of the compounded ratio that the pension index for the year 1981 bears to the pension index for the year 1973, or for the year in which a pension was first received where the pension was first received after 1973, and
(b) the compounded percentage increase with respect to the same period pursuant to subsection 10.1(3).
Additional adjustments
10.2(2)Every pension adjusted in accordance with subsection (1) shall be further adjusted as of the first day of each year, beginning January 1, 1982 by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
“Pension index” defined
10.2(3)In this section “pension index” has the same meaning as it has in section 8 of the Public Service Superannuation Act.
Application of section
10.2(4)This section applies to pensions being received under this Act immediately prior to January 1, 1981, and still being received on July 1, 1981.
1981, c.41, s.1