Form and effect of election
5(1)Every election under this Act
(a)
shall be made in writing and signed by the contributor while still employed in the Public Service except as otherwise provided under this Act,
(b)
shall be in the form prescribed by regulation,
(c)
shall be forwarded to the Minister within the time prescribed by this Act, and
(d)
is irrevocable except as provided by regulation.
5(2)An election under this Act is void in so far as it is an election to pay for
(a)
any period of service that the elector is entitled to count for the purposes of the Teachers’ Act or the
Teachers’ Pension Act, or
(b)
Repealed: 1987, c.47, s.2
(c)
any period of service occurring after August 31, 1966 during which the person was under eighteen years of age.
Election respecting period of service
5(3)A contributor who is entitled under this Act to elect to pay for a period of service is entitled to elect to pay for part only of that period but only that part that is most recent.
Payment respecting period of service
5(4)Any amount required by paragraph 4(1)(b) to be paid by a contributor in respect of any period of service for which he or she has elected to pay is to be paid by him or her into the Superannuation Account
(a)
in a lump sum at the time of making the election, or
(b)
in instalments over a period determined by the Minister, such period not to exceed the period of service in respect of which the election is made, and subject to additional interest.
Cessation of instalment payments
5(5)Where a contributor who has elected under this Act to pay for any period of service and has undertaken to pay for that service in instalments, ceases to be employed in the Public Service before all the instalments have been paid, the unpaid instalments are to be reserved from any pension benefit payable to him or her under this Act, and in the event of his or her death the unpaid instalments are to be recovered from any pension payable under this Act to his or her surviving spouse, surviving common-law partner, children or other dependant if the surviving spouse, surviving common-law partner, children or other dependant, as the case may be, desire the period of service represented by the unpaid instalments to be used in computation of the pension.
1966, c.23, s.6; 1974, c.41(Supp.), s.2; 1987, c.47, s.2; 1996, c.67, s.2; 2008, c.45, s.31