Old Age Security Act — O-9 14
pension income received by the person in that calendar year, (b) the income from any office or employment or any business for that calendar year other than income from the office, employment or business that has ceased, and (c) the person’s income for the base calendar year calculated as though, for that year, the person had no income from any office or employment or any business and no pension income. Additional statement if loss of pension income in current payment period (4) If in a current payment period a person who is an applicant, or is an applicant’s spouse or common-law partner who has filed a statement as described in paragraph 15(2)(a), suffers a loss of income due to termination of or reduction in pension income, the person may, not later than the end of the second payment period after the current payment period, in addition to making the statement of income required by subsection (1) in the case of the applicant or in addition to filing a statement as described in paragraph 15(2)(a) in the case of the applicant’s spouse or common-law partner, file a statement of the person’s estimated income for the calendar year in which the loss is suffered, which income shall be calculated as the total of (a) any pension income received by the person in that part of that calendar year that is after the month immediately before the month in which the loss is suffered, divided by the number of months in that part of that calendar year and multiplied by 12, (b) the income from any office or employment or any business for that calendar year, and (c) the person’s income for the base calendar year calculated as though, for that year, the person had no income from any office or employment or any business and no pension income. Additional statement if retirement before current payment period (5) If, in the circumstances described in paragraphs (a) and (b), a person who is an applicant, or is an applicant’s spouse or common-law partner who has filed a statement as described in paragraph 15(2)(a), ceases to hold an office or employment or ceases to carry on a business, the person may, not later than the end of the payment period that is immediately after the current payment period, in addition to making the statement of income required by subsection (1) in the case of the applicant or in addition to filing a statement as described in paragraph 15(2)(a) in the case of the applicant’s spouse or common-law partner, (a) if the person ceases to hold that office or employment or to carry on that business in the last calendar year ending before the payment period, file a statement of the person’s estimated income for the calendar year ending in the current payment period, which income shall be calculated as the total of (i) any pension income received by the person in that calendar year, (ii) the income from any office or employment or any business for that calendar year, other than income from the office, employment or business that has ceased, and (iii) the person’s income for the base calendar year calculated as though, for that year, the person had no income from any office or employment or any business and no pension income; and (b) if the person ceases to hold that office or employment or to carry on that business in a month that is before the payment period and after the last calendar year ending before the payment period, file a statement of the person’s estimated income for the calendar year ending in the current payment period, which income shall be calculated as the total of (i) any pension income received by the person in that part of that calendar year that is after the month in which the person ceases to hold that office or employment or to carry on that business, divided by the number of months in that part of that calendar year and multiplied by 12, (ii) the income from any office or employment or any business for that calendar year, other than income from the office, employment or business that has ceased, and (iii) the person’