Acts and Regulations

P-26 - Public Service Superannuation Act

Section 8.1
Disposition versions

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Adjustment of pension payable as of 31 December 1982
8.1(1)Subject to subsection (4), the first ten thousand dollars of pension under this Act expressed in annual terms as of December 31, 1982, or the amount of pension payable as of that date where the amount of pension is less than ten thousand dollars, shall be further adjusted as of January 1, 1983, by multiplying that amount by the percentage that is equal to the difference between
(a) the percentage adjustment that represents eighty per cent of the compounded ratio that the pension index for the year 1982 bears to the pension index for the year 1973, or for the year in which a pension was first received where the pension was first received after 1973, and
(b) the compounded percentage increase with respect to the same period pursuant to subsection 8(6).
8.1(2)“Pension index” has the same meaning in this section as it has in section 8.
8.1(3)Subsection 8(6) continues to apply after the adjustment made pursuant to subsection (1).
8.1(4)This section applies to pensions being received under this Act immediately prior to January 1, 1983, and still being received on January 1, 1983.
1982, c.53, s.1