Deferred Pensions
16. (1) If a member ceases to be an employee or councillor of an employer before the member’s normal retirement date for reasons other than the member’s entitlement to a benefit under section 14 or the member’s death, the member is entitled to receive a deferred pension. R.R.O. 1990, Reg. 890, s. 16 (1). (2) A deferred pension under this section is payable to a member for the member’s life commencing the first day of the month next following the later of the member’s normal retirement date or the last date the member made a contribution to the plan, if the member is then living. O. Reg. 402/04, s. 5. (3) The annual amount of deferred pension payable to a member under this section shall be calculated in the manner prescribed in section 13. R.R.O. 1990, Reg. 890, s. 16 (3). (4) A member entitled to a deferred pension under this section may in lieu thereof elect to the extent permitted therein to receive a benefit under section 17, subsection 18 (4) or 19 (1) or section 25. R.R.O. 1990, Reg. 890, s. 16 (4); O. Reg. 317/99, s. 7. (5) Despite subsection (2), where a member who has not made an election under subsection (4) is once again required to become a member under clause 8 (1) (b) or (c) or subsection 8 (9), the member shall cease to be entitled to receive the deferred pension under this section. R.R.O. 1990, Reg. 890, s. 16 (5); O. Reg. 783/92, s. 8 (1). (6) Despite subsection (3), if on the 1st day of December of the year prior to an adjustment year a member is entitled to a deferred pension and on the 1st day of January of that adjustment year continues to be so entitled, the deferred pension of the member shall be increased on the 1st day of January of the adjustment year by the inflation adjustment in the manner prescribed in subsection 21 (5). R.R.O. 1990, Reg. 890, s. 16 (6); O. Reg. 783/92, s. 8 (2). (7) Despite subsection (3), if on the 1st day of December of a year prior to an adjustment year a member is entitled to a deferred pension and on the 1st day of January of that adjustment year, (a) the member is entitled to a pension; or (b) the member’s surviving spouse or children are entitled to a pension in respect of the deceased member, the pension referred to in clause (a) or (b) shall be increased on the 1st day of January of the adjustment year by the inflation adjustment in the manner prescribed in subsection 21 (5) using the date the member became entitled to a deferred pension as the commencement date of the pension which is to be increased by the inflation adjustment. R.R.O. 1990, Reg. 890, s. 16 (7); O. Reg. 783/92, s. 8 (3); O. Reg. 75/00, s. 6; O. Reg. 340/05, s. 6 (1). (8) Despite subsection (3), if on December 1, 1997 a member was entitled to a deferred pension and on January 1, 1998 continues to be so entitled, the deferred pension of the member shall be increased on January 1, 1998 by the 1997 inflation catch-up adjustment as defined in subsection 22 (2). O. Reg. 422/97, s. 6. (9) Despite subsection (3), if on December 1, 1997 a member was entitled to a deferred pension and on January 1, 1998 the member is entitled to a pension or the member’s surviving spouse or children are entitled to a pension in respect of the deceased member, the pension shall be increased on January 1, 1998 by the 1997 inflation catch-up adjustment, as defined in subsection 22 (2), that would have been applicable had the member continued to be entitled to a deferred pension on January 1, 1998. O. Reg. 422/97, s. 6; O. Reg. 340/05, s. 6 (2). (10) For the purposes of subsection (3), any increase to a member’s deferred pension under subsections (6), (8) and (9) shall be deemed to apply to the amount of the reduction referred to in subsection 13 (7) which occurs when the member becomes entitled to a pension under the Canada Pension Plan that is unreduced for early retirement. R.R.O. 1990, Reg. 890, s. 16 (10); O. Reg. 591/98, s. 9. Early Retirement Pensions