35.The annual amount of the employee’s pension is equal, on the date on which he ceases to participate in the plan, to the total of the following amounts:
(1) the amount obtained by multiplying the average pensionable salary obtained pursuant to the first paragraph of section 36 by 2% per year of service credited before 1 January 1992;
(2) the amount obtained by multiplying the average pensionable salary obtained pursuant to the second paragraph of section 36 by 2% per year of service credited after 31 December 1991.
For the purposes of the first paragraph, the number of years of an employee’s credited service taken into account shall not exceed 35.
1977, c. 21, s. 8; 1983, c. 24, s. 1; 1991, c. 77, s. 41; 1995, c. 70, s. 26; 1997, c. 50, s. 20.
35.The annual amount of the employee’s pension is equal to the total of the following amounts:
(1) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited before 1 January 1992;
(2) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited after 31 December 1991. However, this amount shall not exceed the amount obtained by adding the following amounts:
(a) the amount obtained by multiplying the defined benefit limit applicable under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement) for the year in which he retires by the number of years of credited service subsequent to 31 December 1991;
(b) the amount obtained by computing the reduction as in section 39 taking into account only the years of credited service subsequent to 31 December 1991.
For the purposes of the first paragraph, the number of years of an employee’s credited service taken into account shall not exceed 35.
1977, c. 21, s. 8; 1983, c. 24, s. 1; 1991, c. 77, s. 41; 1995, c. 70, s. 26.
35.The annual amount of the employee’s pension is equal to the total of the following amounts:
(1) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited before 1 January 1992;
(2) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited after 31 December 1991. However, this amount shall not exceed the amount obtained by adding the following amounts:
(a) the amount obtained by multiplying the defined benefit limit applicable under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement) for the year in which he retires by the number of years of credited service subsequent to 31 December 1991;
(b) the amount obtained by computing the reduction as in section 39 taking into account only the years of credited service subsequent to 31 December 1991.
1977, c. 21, s. 8; 1983, c. 24, s. 1; 1991, c. 77, s. 41.
35.The annual amount of the employee’s pension is equal to the total of the following amounts:
(1) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited before 1 January 1992;
(2) the amount obtained by multiplying the average pensionable salary by 2 % per year of service credited after 31 December 1991. However, this amount shall not exceed the amount obtained by adding the following amounts:
(a) the amount obtained by multiplying the defined benefit limit applicable under the Income Tax Act (Statutes of Canada) for the year in which he retires by the number of years of credited service subsequent to 31 December 1991;
(b) the amount obtained by computing the reduction as in section 39 taking into account only the years of credited service subsequent to 31 December 1991.
1977, c. 21, s. 8; 1983, c. 24, s. 1; 1991, c. 77, s. 41.
35.The annual amount of the employee’s pension is equal to the average pensionable salary multiplied by 2% per year of service credited, up to 35 years.
35.At least every three years, the Commission shall prepare a statement for each employee who is subject to a retirement plan administered by it, setting forth: