Former Members of Parliament Counting of Service Regulations

Marginal note:Financial hardship

• 12 (1) A contributor who establishes that financial hardship that was unforeseen at the time the election referred to in section 1 was made will be caused if the contributor is required to continue to pay the instalments may extend the period of instalments, but the total of the period chosen under paragraph 6(1)(a) and the extension must not exceed three times the period chosen under that paragraph or 15 years, whichever is the lesser.

• Marginal note:Adjustment of instalments

  (2) The remaining instalments are to be adjusted, in accordance with subsection 6(2), on the first day of the month after the day on which the request is made, except that the actuarial valuation report is the one that was most recently laid before Parliament, in accordance with section 30 of the Act, before the day on which the request is made or, if that report was laid before Parliament in the month in which that day falls or in the preceding month, of the report that was laid before Parliament immediately before that report.