38.22(1)When compensation is paid to a worker under section 38.11 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the rate of return, whether positive or negative, that applies to that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(1.1)The amount under subsection (1) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(1.2)Notwithstanding subsection (1.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10% plus the rate of return, whether positive or negative, applied at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2)Subject to subsections (4), (5), (6) and (7), when compensation is paid to a worker under section 38.2 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the rate of return, whether positive or negative, that applies to that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2.1)The amount under subsection (2) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(2.2)Notwithstanding subsection (2.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10%, plus the rate of return, whether positive or negative, applied at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(3)An amount set aside under subsection (1) or (2) shall be set aside in the reserves of the Commission in a separate fund to be known as the Pension Fund and shall be administered as provided by regulation.

38.22(4)The Commission shall not set aside an amount under subsection (2) in respect of those months from the twenty-fifth month onwards for which a worker was paid compensation and in respect of which the worker received, pursuant to section 20 of An Act to Amend the Workers’ Compensation Act, chapter 34 of the Acts of New Brunswick, 1992, an amount plus the rate of return, whether positive or negative, applied to that amount for the worker under section 38.3 before its repeal.

38.22(5)No amount shall be set aside under subsection (2) in respect of a worker who died before January 1, 1998.

38.22(6)No amount shall be set aside under subsection (2) in respect of a worker who is in receipt of a guaranteed supplement under section 38.21 unless the worker makes an election under subsection 38.21(3).

38.22(7)The Commission shall, with respect to an amount set aside pursuant to subsection (2),

38.22(8)The Commission shall, with respect to the amount referred to in paragraph (7)(a), calculate the amount by assuming

38.22(9)The rate of return, whether positive or negative, shall be assumed to have been applied quarterly to the amount credited to each worker’s account in the Pension Fund and the rate of return, whether positive or negative, applied by the Commission shall be the average yield rate of the investment portfolio of the Pension Fund during each quarter.

38.22(10)An amount set aside under subsection (1) or (2) shall not be deducted from the compensation paid to the worker but shall be an amount which the Commission shall set aside over and above the compensation payable to the worker under section 38.11 or 38.2.

38.22(11)In determining the amount of compensation paid for the purposes of subsection (1) or (2), the Commission shall not take into account any lump sum provided under subsection 38.11(17) or 38.2(8).

38.22(12)Where the pension to which a worker is entitled under subsection (1) or (2) would be less than five hundred dollars per year, the Commission may, in lieu of that pension, pay to the worker at age sixty-five the accumulated capital and the return, whether positive or negative, on the accumulated capital.

38.22(13)Where a worker dies before attaining age sixty-five, any amount set aside in the reserves of the Commission for the purpose of providing the worker with a pension at age sixty-five, together with the rate of return, whether positive or negative, applied to the amount, shall be divided equally among the surviving dependents of the worker; but where a spouse has the care of a dependent child of the worker that child’s share shall be given to the spouse, and where the worker has no surviving dependents the amount set aside shall remain in the Pension Fund.

38.22(14)Subject to subsection (15), the pension provided under this section shall be in addition to and not in lieu of any retirement pension provided under the Canada Pension Plan and the Old Age Security Act.

38.22(15)If compensation or benefits payable by the Commission under section 38.11 or 38.2 are reduced under subsection 38.91(1), the calculation of a pension under this section shall not include the amount of that disability pension.

38.22(1)When compensation is paid to a worker under section 38.11 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the rate of return, whether positive or negative, that applies to that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(1.1)The amount under subsection (1) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(1.2)Notwithstanding subsection (1.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10% plus the rate of return, whether positive or negative, applied at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2)Subject to subsections (4), (5), (6) and (7), when compensation is paid to a worker under section 38.2 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the rate of return, whether positive or negative, that applies to that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2.1)The amount under subsection (2) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(2.2)Notwithstanding subsection (2.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10%, plus the rate of return, whether positive or negative, applied at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(3)An amount set aside under subsection (1) or (2) shall be set aside in the reserves of the Commission in a separate fund to be known as the Pension Fund and shall be administered as provided by regulation.

38.22(4)The Commission shall not set aside an amount under subsection (2) in respect of those months from the twenty-fifth month onwards for which a worker was paid compensation and in respect of which the worker received, pursuant to section 20 of An Act to Amend the Workers’ Compensation Act, chapter 34 of the Acts of New Brunswick, 1992, an amount plus the rate of return, whether positive or negative, applied to that amount for the worker under section 38.3 before its repeal.

38.22(5)No amount shall be set aside under subsection (2) in respect of a worker who died before January 1, 1998.

38.22(6)No amount shall be set aside under subsection (2) in respect of a worker who is in receipt of a guaranteed supplement under section 38.21 unless the worker makes an election under subsection 38.21(3).

38.22(7)The Commission shall, with respect to an amount set aside pursuant to subsection (2),

38.22(8)The Commission shall, with respect to the amount referred to in paragraph (7)(a), calculate the amount by assuming

38.22(9)The rate of return, whether positive or negative, shall be assumed to have been applied quarterly to the amount credited to each worker’s account in the Pension Fund and the rate of return, whether positive or negative, applied by the Commission shall be the average yield rate of the investment portfolio of the Pension Fund during each quarter.

38.22(10)An amount set aside under subsection (1) or (2) shall not be deducted from the compensation paid to the worker but shall be an amount which the Commission shall set aside over and above the compensation payable to the worker under section 38.11 or 38.2.

38.22(11)In determining the amount of compensation paid for the purposes of subsection (1) or (2), the Commission shall not take into account any lump sum provided under subsection 38.11(17) or 38.2(8).

38.22(12)Where the pension to which a worker is entitled under subsection (1) or (2) would be less than five hundred dollars per year, the Commission may, in lieu of that pension, pay to the worker at age sixty-five the accumulated capital and the return, whether positive or negative, on the accumulated capital.

38.22(13)Where a worker dies before attaining age sixty-five, any amount set aside in the reserves of the Commission for the purpose of providing the worker with a pension at age sixty-five, together with the rate of return, whether positive or negative, applied to the amount, shall be divided equally among the surviving dependents of the worker; but where a spouse has the care of a dependent child of the worker that child’s share shall be given to the spouse, and where the worker has no surviving dependents the amount set aside shall remain in the Pension Fund.

38.22(14)The pension provided pursuant to this section shall be in addition to and not in lieu of any benefit provided pursuant to the Canada Pension Plan and the Old Age Security Act.

38.22(1)When compensation is paid to a worker under section 38.11 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the interest that accrues on that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(1.1)The amount under subsection (1) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(1.2)Notwithstanding subsection (1.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10% plus interest accrued at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2)Subject to subsections (4), (5), (6) and (7), when compensation is paid to a worker under section 38.2 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the interest that accrues on that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2.1)The amount under subsection (2) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(2.2)Notwithstanding subsection (2.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10%, plus interest accrued at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(3)An amount set aside under subsection (1) or (2) shall be set aside in the reserves of the Commission in a separate fund to be known as the Pension Fund and shall be administered as provided by regulation.

38.22(4)The Commission shall not set aside an amount under subsection (2) in respect of those months from the twenty-fifth month onwards for which a worker was paid compensation and in respect of which the worker received, pursuant to section 20 of An Act to Amend the Workers’ Compensation Act, chapter 34 of the Acts of New Brunswick, 1992, an amount plus interest set aside for the worker under section 38.3 before its repeal.

38.22(5)No amount shall be set aside under subsection (2) in respect of a worker who died before January 1, 1998.

38.22(6)No amount shall be set aside under subsection (2) in respect of a worker who is in receipt of a guaranteed supplement under section 38.21 unless the worker makes an election under subsection 38.21(3).

38.22(7)The Commission shall, with respect to an amount set aside pursuant to subsection (2),

38.22(8)The Commission shall, with respect to the amount referred to in paragraph (7)(a), calculate the amount by assuming

38.22(9)Interest shall be assumed to have been paid quarterly on the amount credited to each worker’s account in the Pension Fund and the rate of interest payable shall be the average yield rate of the investment portfolio of the Pension Fund during each quarter.

38.22(10)An amount set aside under subsection (1) or (2) shall not be deducted from the compensation paid to the worker but shall be an amount which the Commission shall set aside over and above the compensation payable to the worker under section 38.11 or 38.2.

38.22(11)In determining the amount of compensation paid for the purposes of subsection (1) or (2), the Commission shall not take into account any lump sum provided under subsection 38.11(17) or 38.2(8).

38.22(12)Where the pension to which a worker is entitled under subsection (1) or (2) would be less than five hundred dollars per year, the Commission may, in lieu of that pension, pay to the worker at age sixty-five the accumulated capital and interest.

38.22(13)Where a worker dies before attaining age sixty-five, any amount set aside in the reserves of the Commission for the purpose of providing the worker with a pension at age sixty-five, together with accrued interest, shall be divided equally among the surviving dependents of the worker; but where a spouse has the care of a dependent child of the worker that child’s share shall be given to the spouse, and where the worker has no surviving dependents the amount set aside shall remain in the Pension Fund.

38.22(14)The pension provided pursuant to this section shall be in addition to and not in lieu of any benefit provided pursuant to the Canada Pension Plan and the Old Age Security Act.

38.22(1)When compensation is paid to a worker under section 38.11 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the interest that accrues on that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(1.1)The amount under subsection (1) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(1.2)Notwithstanding subsection (1.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10% plus interest accrued at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2)Subject to subsections (4), (5), (6) and (7), when compensation is paid to a worker under section 38.2 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount, commencing in the twenty-fifth month, to be used with the interest that accrues on that amount to provide a pension for the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(2.1)The amount under subsection (2) shall be calculated by multiplying the percentage prescribed below times the amount of compensation paid beginning from the twenty-fifth consecutive month to the worker’s sixty-fifth birthday or until the worker dies, whichever occurs first:

38.22(2.2)Notwithstanding subsection (2.1), if a worker reaches the age of sixty-five on or after January 1, 2009, or if the worker dies on or after January 1, 2009, but before reaching the age of sixty-five, the Commission shall set aside for the worker’s account in the Pension Fund such amount of money as though it had been paid into the account at the rate of 10%, plus interest accrued at the rate prescribed in subsection (9), and such sum shall be used to provide a pension to the worker at age sixty-five or to be disbursed in accordance with subsection (13).

38.22(3)An amount set aside under subsection (1) or (2) shall be set aside in the reserves of the Commission in a separate fund to be known as the Pension Fund and shall be administered as provided by regulation.

38.22(4)The Commission shall not set aside an amount under subsection (2) in respect of those months from the twenty-fifth month onwards for which a worker was paid compensation and in respect of which the worker received, pursuant to section 20 of An Act to Amend the Workers’ Compensation Act, chapter 34 of the Acts of New Brunswick, 1992, an amount plus interest set aside for the worker under section 38.3 before its repeal.

38.22(5)No amount shall be set aside under subsection (2) in respect of a worker who died before January 1, 1998.

38.22(6)No amount shall be set aside under subsection (2) in respect of a worker who is in receipt of a guaranteed supplement under section 38.21 unless the worker makes an election under subsection 38.21(3).

38.22(7)The Commission shall, with respect to an amount set aside pursuant to subsection (2),

38.22(8)The Commission shall, with respect to the amount referred to in paragraph (7)(a), calculate the amount by assuming

38.22(9)Interest shall be assumed to have been paid quarterly on the amount credited to each worker’s account in the Pension Fund and the rate of interest payable shall be the average yield rate of the investment portfolio of the Pension Fund during each quarter.

38.22(10)An amount set aside under subsection (1) or (2) shall not be deducted from the compensation paid to the worker but shall be an amount which the Commission shall set aside over and above the compensation payable to the worker under section 38.11 or 38.2.

38.22(11)In determining the amount of compensation paid for the purposes of subsection (1) or (2), the Commission shall not take into account any lump sum provided under subsection 38.11(17) or 38.2(8).

38.22(12)Where the pension to which a worker is entitled under subsection (1) or (2) would be less than five hundred dollars per year, the Commission may, in lieu of that pension, pay to the worker at age sixty-five the accumulated capital and interest.

38.22(13)Where a worker dies before attaining age sixty-five, any amount set aside in the reserves of the Commission for the purpose of providing the worker with a pension at age sixty-five, together with accrued interest, shall be divided equally among the surviving dependents of the worker; but where a spouse has the care of a dependent child of the worker that child’s share shall be given to the spouse, and where the worker has no surviving dependents the amount set aside shall remain in the Pension Fund.

38.22(14)The pension provided pursuant to this section shall be in addition to and not in lieu of any benefit provided pursuant to the Canada Pension Plan and the Old Age Security Act.

38.22(1)Where compensation is paid to a worker under section 38.11 for a period exceeding twenty-four consecutive months, the Commission shall, beginning in the twenty-fifth month, set aside an amount equal to five per cent of the compensation paid from that date and that amount together with accrued interest shall be used to provide a pension for the worker at age sixty-five.

38.22(2)Subject to subsections (4), (5) and (6), where compensation is paid to a worker under section 38.2 for a period exceeding twenty-four consecutive months, the Commission shall set aside an amount equal to five per cent of the compensation paid from the twenty-fifth month onwards and that amount together with accrued interest shall be used to provide a pension for the worker at age sixty-five.

38.22(3)An amount set aside under subsection (1) or (2) shall be set aside in the reserves of the Commission in a separate fund to be known as the Pension Fund and shall be administered as provided by regulation.

38.22(4)The Commission shall not set aside an amount under subsection (2) in respect of those months from the twenty-fifth month onwards for which a worker was paid compensation and in respect of which the worker received, pursuant to section 20 of An Act to Amend the Workers’ Compensation Act, chapter 34 of the Acts of New Brunswick, 1992, an amount plus interest set aside for the worker under section 38.3 before its repeal.

38.22(5)No amount shall be set aside under subsection (2) in respect of a worker who died before January 1, 1998.

38.22(6)No amount shall be set aside under subsection (2) in respect of a worker who is in receipt of a guaranteed supplement under section 38.21 unless the worker makes an election under subsection 38.21(3).

38.22(7)The Commission shall, with respect to an amount set aside pursuant to subsection (2),

38.22(8)The Commission shall, with respect to the amount referred to in paragraph (7)(a), calculate the amount by assuming

38.22(9)Interest shall be assumed to have been paid quarterly on the amount credited to each worker’s account in the Pension Fund and the rate of interest payable shall be the average yield rate of the investment portfolio of the Pension Fund during each quarter.

38.22(10)An amount set aside under subsection (1) or (2) shall not be deducted from the compensation paid to the worker but shall be an amount which the Commission shall set aside over and above the compensation payable to the worker under section 38.11 or 38.2.

38.22(11)In determining the amount of compensation paid for the purposes of subsection (1) or (2), the Commission shall not take into account any lump sum provided under subsection 38.11(17) or 38.2(8).

38.22(12)Where the pension to which a worker is entitled under subsection (1) or (2) would be less than five hundred dollars per year, the Commission may, in lieu of that pension, pay to the worker at age sixty-five the accumulated capital and interest.

38.22(13)Where a worker dies before attaining age sixty-five, any amount set aside in the reserves of the Commission for the purpose of providing the worker with a pension at age sixty-five, together with accrued interest, shall be divided equally among the surviving dependents of the worker; but where a spouse has the care of a dependent child of the worker that child’s share shall be given to the spouse, and where the worker has no surviving dependents the amount set aside shall remain in the Pension Fund.

38.22(14)The pension provided pursuant to this section shall be in addition to and not in lieu of any benefit provided pursuant to the Canada Pension Plan and the Old Age Security Act.