Reserve Force Pension Plan Regulations

Marginal note:Election not made

• 33 (1) A transfer value earnings election is deemed not to have been made

  • (a) in the case of an election to count earnings as pensionable earnings from a period after December 31, 1989, if the Minister of National Revenue refuses to issue a certification under paragraph 147.1(10)(a) of the Income Tax Act;

  • (b) at the request of the person who made the election if they received erroneous or misleading information in writing as to the amount to be paid or the consequences of the election on their benefits, from a member of the Canadian Forces or a person employed in the public service who normally gives information as to those matters, and, in making the election, they honestly acted on that information; or

  • (c) if no payment is received by the Minister within the required time.

• Marginal note:Refund

  (2) The Minister shall refund any payments received from a plan, fund, or institution of a type referred to in paragraph 61(1)(a) to a plan, fund, or institution of the same type, at the direction of the person who made the election.

• Marginal note:Other election

  (3) Despite the expiry of the period to make the election, the person may make an election no later than 90 days after the date of the notice from the Minister informing the person of the refusal by the Minister of National Revenue. In the case of another refusal, the person may not make an election.