41. Subject to the other provisions of this plan, a pension or other benefit specified in this plan shall be paid to any person who is required to be a member of this plan and who ceases to hold employment with his employer. That pension or benefit shall be based on the number of years of pensionable service credited to the person.
Notwithstanding the first paragraph, a pension shall become payable to a contributor eligible therefor from the day of his retirement or not later than 31 December of the year in which he reaches age 69. Notwithstanding the foregoing, if that contributor reached that age before 1 January 1997, the pension shall become payable not later than 31 December of that year.
O.C. 430-93, s. 41; O.C. 1596-97, s. 2.