s.29Resignation prior to retirement
29
Section 29Part 5 — Pension Benefits

Resignation prior to retirement

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An active participant who resigns prior to becoming eligible for a pension under this Law shall have the rights of a deferred vested participant in respect of his accrued benefit.
A deferred vested participant is entitled to receive a deferred benefit commencing on the first day of the month following his attainment of normal retirement age, calculated in accordance with section 26 based on his pensionable service and final pensionable earnings on his resignation date.
In lieu of the benefit described in subsection (2), a deferred vested participant may elect to commence payment of his deferred benefit on the last day of any month following his attainment of early retirement age and in such event, the deferred benefit will be determined in the manner described in subsection (2), except that the benefit so determined shall be actuarially reduced by the relevant early retirement reduction factor set out in the Plan actuarial tables to take into account the additional years prior to attaining age fifty-five that he shall be entitled to receive benefit payments.

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