Members of Parliament Retiring Allowances Act
Marginal note:Election for joint and survivor benefit
43 (1) A former member who is entitled to a compensation allowance or additional compensation allowance under this Part or a retirement allowance or additional retirement allowance under Part I and who has a spouse to whom, in the event of that former member’s death, no allowance would be paid pursuant to paragraph 20(1)(a) or 40(1)(a) may elect, subject to the regulations and in accordance with subsection 56(2), to receive, instead of all future payments of the aggregate of those allowances, a joint and survivor benefit in an amount determined in accordance with subsection (2).
Marginal note:Election for both Parts
(1.1) No election may be made by a former member under subsection (1), unless the former member makes an election under subsection 23(1) at the same time.
(2) For the purposes of subsection (1), the amount of the joint and survivor benefit is determined by adjusting in accordance with the regulations the aggregate of the allowances referred to in that subsection to which the former member is entitled at the time of the election, but the actuarial present value of the joint and survivor benefit may not be less than the actuarial present value of that aggregate.
(2.1) An election under subsection (1) is irrevocable except under such circumstances and such terms and conditions as are prescribed.
Marginal note:Revocation of election
(3) Where a former member who made an election under subsection (1) subsequently becomes a member on any day thereafter, that election is deemed to be revoked on that day.
Marginal note:Survivor benefit
(4) Except where an election under subsection (1) is revoked or deemed to be revoked, on the death of the former member there shall be paid to the person who was the spouse of the former member at the time of the election and the time of the death a joint and survivor benefit in an amount determined in accordance with the regulations.
- 1992, c. 46, s. 81
- 1995, c. 30, s. 14
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