R.R.O. 1990, Reg. 711: GENERAL, Legislative Assembly Retirement Allowances Act, R.S.O. 1990, c. L.11
Legislative Assembly Retirement Allowances Act
Loi sur les allocations de retraite des députés à l’Assemblée législative
REGULATION 711
No Amendments
GENERAL
Note: This Regulation became spent some time before January 1, 2004.
This Regulation is made in English only.
1. For the purpose of subsection 24 (3) of the Act, payment of instalments shall be made in thirty-five equal monthly instalments, the first payment of which shall be one month after the date of the election by the member and thereafter on the same date in each and every succeeding month, until all the contributions have been fully made. R.R.O. 1990, Reg. 711, s. 1.
2. (1) Table 1 is prescribed for the purposes of subsection 6 (4) and subsection 9 (4) of the Act.
(2) Table 2 is prescribed for the purposes of subsection 18 (5) and subsection 19 (4) of the Act. R.R.O. 1990, Reg. 711, s. 2.
3. Annuities shall, for the purposes of clause 16 (2) (b) of the Act, be calculated in accordance with Table 3. R.R.O. 1990, Reg. 711, s. 3.
TABLE 1
Age last birthday before former member or minister elects to take an immediate allowance |
Reduction factor to be applied to the amount of the allowance determined under subsection 6(4) or 9(4) of the Act |
54 |
93% |
53 |
87 |
52 |
81 |
51 |
76 |
50 |
71 |
49 |
67 |
48 |
63 |
47 |
59 |
46 |
55 |
45 |
52 |
44 |
49 |
43 |
46 |
42 |
44 |
41 |
42 |
40 |
40 |
39 |
38 |
38 |
36 |
37 |
34 |
36 |
32 |
35 or younger |
30 |
R.R.O. 1990, Reg. 711, Table 1.
TABLE 2
60-Age-Years of Service |
Reduction Factor |
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 and greater |
.94 .89 .84 .79 .74 .70 .66 .62 .58 .55 .51 .48 .45 .42 .40 .37 .35 .33 .31 .30 |
R.R.O. 1990, Reg. 711, Table 2.
TABLE 3
ANNUITY PURCHASE FACTORS FOR ANNUITIES
Monthly Income Purchased by $100
Age |
Married Male |
Married Female |
Single Male |
Single Female |
55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 and above |
.59 .60 .61 .62 .63 .65 .66 .68 .70 .71 .73 .75 .77 .80 .82 .85 .88 .91 .94 .98 1.02 |
.58 .59 .60 .61 .62 .63 .65 .66 .68 .70 .71 .73 .76 .78 .80 .83 .86 .89 .92 .96 1.00 |
.66 .68 .69 .71 .73 .75 .77 .79 .82 .84 .87 .90 .93 .97 1.01 1.05 1.09 1.14 1.19 1.24 1.30 |
.60 .61 .62 .64 .65 .66 .68 .70 .71 .73 .75 .78 .80 .83 .85 .88 .92 .95 .99 1.03 1.07 |
Above reduction factors in Table 1 to age 55 rate for ages below 55.
R.R.O. 1990, Reg. 711, Table 3.
