T-16 - Courts of Justice Act

Section 246.23.3 Disposition versions

2002-06-14

246.23.3. A judge to whom section 246.23.1 applies may elect to receive early payment or to postpone the payment of the deferred pension to a date other than the judge’s sixty-fifth birthday. However, the deferred pension is not payable before the date on which the judge retires and has reached 55 years of age, or after 31 December of the year in which the judge reaches 69 years of age. Where the judge elects to receive early payment, the deferred pension is reduced, for its duration, by 0.5% per month for each month between the date on which it becomes payable and the judge’s sixty-fifth birthday. Where the judge postpones payment, the deferred pension is increased by the same percentage for each month between the latter date and the date on which it becomes payable.

If the judge dies while retired and the total amount of deferred pension paid to the judge under section 246.23.1 is less than the amount transferred pursuant to the first paragraph of that provision, with interest accrued to the date of retirement, the difference shall be refunded to the judge’s heirs. If the judge dies or otherwise ceases to hold office before payment of the pension begins, the amount transferred with accrued interest shall be refunded to the judge’s heirs or the judge, as the case may be.

2002, c. 32, s. 15.