Acts and Regulations

P-26 - Public Service Superannuation Act

Section 10.5
Disposition versions

Full text
Provision respecting five or more years of pensionable service
10.5(1)Notwithstanding paragraph 10(1)(d), a contributor who ceases to be employed in the Public Service before reaching retirement age, and upon complying with conditions contained in the regulations, may elect to receive
(a) a return of contributions with interest, or
(b) an annual allowance upon attaining fifty-five years of age or an immediate pension upon attaining sixty years of age, payable when the age is reached or the election is made, whichever occurs later,
at the contributor’s option, except that if the contributor fails to advise the Minister of the election within one year of ceasing to be employed the contributor is deemed to have chosen a return of contributions with interest.
10.5(2)An annual allowance under paragraph (1)(b) is subject to paragraph 8503(3)(c) of the Income Tax Regulations under the Income Tax Act (Canada).
1991, c.45, s.6; 2008, c.16, s.8
Provision respecting five or more years of pensionable service
10.5Notwithstanding paragraph 10(1)(d), a contributor who ceases to be employed in the Public Service before reaching retirement age, and upon complying with conditions contained in the regulations, may elect to receive
(a) a return of contributions with interest, or
(b) an annual allowance upon attaining fifty-five years of age or an immediate pension upon attaining sixty years of age, payable when the age is reached or the election is made, whichever occurs later,
at the contributor’s option, except that if the contributor fails to advise the Minister of the election within one year of ceasing to be employed the contributor is deemed to have chosen a return of contributions with interest.
1991, c.45, s.6