43. The personal exemption of a worker for a year is equal to that year’s Basic Exemption.
Nevertheless, for a year in which a worker reaches 18 years of age, or in which a disability pension ceases to be payable to him under this act or under a similar plan, his personal exemption is reduced in the proportion that the number of months in the year after he reaches 18 years of age or after such disability pension ceases bears to 12.
Also, for a year in which a worker reaches 70 years of age or dies, or in which a retirement or disability pension becomes payable to him under this act or under a similar plan, such exemption shall be reduced in the proportion which the number of months before he reaches 70 years of age, or prior to the month immediately following his death or to the date when the retirement or disability pension becomes payable to him, bears to 12.
1965 (1st sess.), c. 24, s. 40; 1974, c. 16, s. 7.