299. Service credited to a member under the pension plan before 1 January 1990 shall not be taken into account for the purposes of section 86, unless the plan is amended after 1 January 1990 to increase the benefits accumulated in respect of service credited before that date, in which case section 86 applies to the benefits resulting from the increase.
In addition, the successors of a member who dies between 31 December 1989 and 1 January 2001 shall be entitled to a lump sum benefit equal to or greater than the member contributions and additional voluntary contributions paid by the member before 31 December 1989, with interest accrued to the date of payment of the benefit, calculated at the rate provided in the plan for the period prior to 1 January 1990 and, subject to the provisions of section 45.1, at the rate referred to in section 44 for the subsequent period.
Where the death occurs after 31 December 2000, the benefit provided for in the second paragraph shall be made to the member’s spouse or, if there is no surviving spouse, to the member’s successors. However, the spouse may waive entitlement to such benefit, in which case section 88.1 applies, with the necessary modifications. Moreover, this paragraph does not apply if the surviving spouse is entitled, as of the member’s death, to a pension the value of which is equal to or greater than the benefit provided for in the second paragraph.
For the purposes of this section, a member’s spouse is the person who meets the requirements set out in section 85.
1989, c. 38, s. 299; 1992, c. 60, s. 53; 1999, c. 40, s. 254; 2000, c. 41, s. 184.