Acts and Regulations

P-26 - Public Service Superannuation Act

Section 3.01
Disposition versions

Full text
Election to contribute to account
3.01(1)Notwithstanding paragraphs 3(1)(d) and (d.1),
(a) a person employed in full time employment who, after the commencement of this subsection, becomes a person described in paragraph 3(1)(d) or (d.1), may elect to continue to contribute to the Superannuation Account, and
(b) a person described in paragraph 3(1)(d) or (d.1) who, before the commencement of this subsection, became a person described in paragraph 3(1)(d) or (d.1) immediately after ceasing to be employed in full time employment, may elect to resume contributing to the Superannuation Account.
3.01(2)A person who makes an election under paragraph (1)(a) or (b) shall be deemed to be a person required by subsection 3(1) to contribute to the Superannuation Account and shall
(a) contribute to the Superannuation Account an amount calculated on the basis of the person’s salary, and
(b) accumulate pensionable service on the basis of the time the contributor is required to work and is paid that salary.
3.01(3)Notwithstanding subsections (1) and (2), where a person employed in full time employment becomes a person described in paragraph 3(1)(d) or (d.1) during the five years before, or at any time after, the person attains retirement age, if the person intends to retire within five years, the person may, for the period remaining before the date specified by the person under paragraph (4)(a), elect to continue to contribute to the Superannuation Account, on the same basis as if the person had continued to be employed in full time employment.
3.01(4)A person who makes an election under subsection (3) shall
(a) at the time the person makes the election, specify the date on which the person intends to retire, and
(b) notwithstanding any other provision of this Act, for the period described in subsection (3),
(i) continue to contribute to the Superannuation Account an amount based on the salary the person would have been paid had the person continued to be employed in full time employment, and
(ii) continue to accumulate pensionable service at the same rate as if the person had continued to be employed in full time employment.
1994, c.89, s.1