22.2(1)Despite section 10.5, if a pension is paid under this Act in respect of a person who ceases to be a member on or after April 1, 2008, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2009, 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 1.05, whichever is the lesser.

22.2(2)Despite subsection (1), the first adjustment under subsection (1) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (1) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which the cessation of employment or death took place in the year preceding the year in which the first adjustment is made.

22.2(1)Despite section 10.5, if a pension is paid under this Act in respect of a person who ceases to be a member on or after April 1, 2008, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2009, 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 1.05, whichever is the lesser.

22.2(2)Despite subsection (1), the first adjustment under subsection (1) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (1) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which the cessation of employment or death took place in the year preceding the year in which the first adjustment is made.

22.2(3)In this section “pension index” has the same meaning as it has in section 8 of the Public Service Superannuation Act.

22.2(1)Despite section 10.5, if a pension is paid under this Act in respect of a person who ceases to be a member on or after April 1, 2008, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2009, 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 1.05, whichever is the lesser.

22.2(2)Despite subsection (1), the first adjustment under subsection (1) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (1) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which the cessation of employment or death took place in the year preceding the year in which the first adjustment is made.

22.2(3)In this section “pension index” has the same meaning as it has in section 8 of the Public Service Superannuation Act.