R-10, r. 2 - Regulation under the Act respecting the Government and Public Employees Retirement Plan

Section 46.2 Disposition versions

2012-09-01

46.2. If the employee retires on the date of his 65th birthday or after that date, the part of the pension relating to years or parts of years prior to 1 January 1990 in which the employee was not a member of a pension plan within the meaning of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) and that were redeemed shall not exceed the amount obtained by multiplying 2/3 of $1,725 or of the defined benefit limit applicable for the year of retirement under the Income Tax Act, whichever amount is higher, by the number of years or parts of years of service credited under the redemption.

If the employee retires before the date of his 65th birthday, the part of the pension relating to those years or parts of years shall not exceed the amount obtained pursuant to the first paragraph increased by the amount obtained by multiplying the amount calculated pursuant to section 39 of the Act by the fraction representing the number of years or parts of years of service credited being redeemed over the number of years or parts of years of service credited after 31 December 1965, up to a maximum of 35 years of service.

O.C. 706-94, s. 3; T.B. 202419, s. 14; T.B. 210068, s. 4.