Pension respecting five or more years of pensionable service
10(1)The following provisions are applicable in respect of any contributor who has to his or her credit five or more years of pensionable service, namely:
(a)
if he or she ceases to be employed in the Public Service, having reached the age of sixty-five years he or she is entitled to an immediate pension;
(b)
if he or she ceases to be employed in the Public Service by reason of having become disabled and not having reached the age of sixty-five years he or she is entitled to
(i)
an immediate pension, or
(ii)
a return of contributions with interest at his or her option, except that if he or she fails to advise the Minister of his or her option within one year of ceasing to be employed, he or she is deemed to have chosen an immediate pension;
(c)
if he or she ceases to be employed in the Public Service, not having reached sixty-five years of age for any reason other than disability or death, he or she is entitled to
(i)
a return of contributions with interest, or
(ii)
in the case of a contributor sixty or more years of age, an annual allowance payable immediately, which allowance is to be the actuarial equivalent of the immediate pension that would have been payable had the contributor been entitled to the immediate pension calculated in accordance with subsection 7(3) when he or she actually ceased to be employed,
at his or her option, except that if he or she fails to advise the Minister of his or her option within one year of ceasing to be employed, he or she is deemed to have chosen a return of contributions with interest;
(d)
a contributor who terminated his or her employment or whose employment was terminated before he or she attained retirement age, and upon complying with conditions contained in the regulations, may elect to receive
(i)
an annual allowance or an immediate pension payable when he or she attains retirement age or makes the election, whichever occurs later, or
(ii)
a return of contributions with interest,
at his or her option, except that if he or she fails to advise the Minister of his or her election within one year of the termination of his or her employment, he or she is deemed to have chosen a return of contributions with interest;
(e)
a contributor who elects to receive a deferred pension and subsequently becomes disabled not having reached retirement age, is eligible to receive an immediate pension calculated in accordance with paragraph (d);
(f)
if he or she elects to receive a deferred pension, that pension shall, until time of payment, be adjusted in accordance with subsections 8(6), (6.1), (6.2) and (6.3) and section 8.1 commencing the first day of the year following the year in which he or she ceased to be employed;
(g)
if he or she elects to receive a deferred pension and subsequently becomes a contributor, the election is void.
Pension respecting five or more years of pensionable service
10(1.1)The Minister may extend the time for an election under paragraph (1)(c) or (d) if the contributor submits a satisfactory reason as to his or her failure to make his or her election within the time prescribed.
When immediate pension payable
10(2)Notwithstanding subsection (1), a person who immediately prior to September 1, 1966, was a contributor under the Superannuation Act or the Teachers’ Act, may retire with an immediate pension if he or she has attained the age of sixty years and has to his or her credit a period of pensionable service of at least thirty years before attaining the age of sixty-five years.
When immediate pension payable
10(2.1)For the purposes of subsection (2), a contributor who has purchased service under clause 4(1)(b)(ii)(A) or (A.8) which occurred immediately prior to September 1, 1966 shall be deemed to be a person who immediately prior to September 1, 1966 was a contributor under the Superannuation Act.
Election to receive deferred pension
10(3)Notwithstanding subsection (1), a person who immediately prior to September 1, 1966 was a contributor under the Superannuation Act or the Teachers’ Act and who has elected to receive a deferred pension, shall be entitled to an immediate pension upon attaining the age of sixty years if he or she has to his or her credit a period of pensionable service of at least thirty years.
Payment of immediate pension to deputy head
10(4)Notwithstanding subsections (1) and (2), a person who has served as a deputy head for not less than one year may retire with an immediate pension if he or she has attained the age of fifty-five years or more and has to his or her credit a period of pensionable service of at least twenty-five years.
10(5)Repealed: 1987, c.47, s.4 1966, c.23, s.10; 1969, c.66, s.3; 1971, c.58, s.3, 4; 1972, c.57, s.7, 8; 1973, c.68, s.2; 1975, c.49, s.6; 1976, c.50, s.4; 1977, c.43, s.4; 1982, c.53, s.2; 1983, c.71, s.6; 1984, c.58, s.4; 1987, c.47, s.4; 1996, c.67, s.4; 2008, c.16, s.6; 2008, c.45, s.31