56.1. The employee may, in applying for a pension, elect to receive a pension with a 2% reduction for the duration of the payment in order to enable his spouse to receive, instead of the pension provided for in section 56, a pension equal to 60% of the reduced pension to which the employee will be entitled. The employee who is entitled to a deferred pension may also make that election within the 90 days preceding the date of his sixty-fifth birthday. However, the 2% reduction does not apply to the amount added, where applicable, to the annual amount of pension pursuant to section 44.3.
The election becomes irrevocable as soon as payment of the employee’s pension begins, even where no spouse is entitled to a pension.
1996, c. 53, s. 8; 2008, c. 25, s. 46.