Normal Retirement Pensions
13. (1) Every member who retires on or after the member’s normal retirement date is entitled to receive a normal retirement pension. R.R.O. 1990, Reg. 890, s. 13 (1). (2) A pension under this section is payable to a member beginning on the first day of the month, following the month of the member’s retirement. O. Reg. 775/91, s. 11 (1). (3) Despite subsections (1) and (2), a member who attains 69 years of age is entitled to receive a pension commencing on the first day of the month next following the month in which the member attains 69 years of age. R.R.O. 1990, Reg. 890, s. 13 (3); O. Reg. 591/98, s. 6 (1). (4) A member’s normal retirement pension equals the sum of the member’s lifetime normal retirement pension and bridge pension. O. Reg. 775/91, s. 11 (2). (4.1) Before January 1, 1998, the lifetime normal retirement pension payable to a member for life is calculated using the formula,  in which, “A” is 2 per cent of the member’s pensionable earnings multiplied by the member’s credited service before 1966; “B” is the amount calculated by multiplying the member’s credited service after 1965 by 1.3 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the two preceding years; and “C” is the amount, if any, calculated by multiplying the member’s credited service after 1965 by 2 per cent of the greater of, (a) the member’s pensionable earnings less the amount that is the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the two preceding years, or (b) zero. O. Reg. 430/00, s. 2 (1). (4.2) From January 1, 1998 until December 31, 1998, the lifetime normal retirement pension payable to a member for life is calculated using the formula,  in which, “A” is 2 per cent of the member’s pensionable earnings multiplied by the member’s credited service before 1966; “D” is the amount calculated by multiplying the member’s credited service after 1965 by 1.3 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the three preceding years; and “E” is the amount, if any, calculated by multiplying the member’s credited service after 1965 by 2 per cent of the greater of, (a) the member’s pensionable earnings less the amount that is the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the three preceding years, or (b) zero. O. Reg. 430/00, s. 2 (1). (5) On and after January 1, 1999, the lifetime normal retirement pension payable to a member for life is calculated using the formula,  in which, “A” is 2 per cent of the member’s pensionable earnings multiplied by the member’s credited service before 1966; “F” is the amount calculated by multiplying the member’s credited service after 1965 by 1.325 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the four preceding years; and “G” is the amount, if any, calculated by multiplying the member’s credited service after 1965 by 2 per cent of the greater of, (a) the member’s pensionable earnings less the amount that is the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the four preceding years, or (b) zero. O. Reg. 430/00, s. 2 (2). (5.1) In the circumstances described in subsection 19.0.1 (3) and despite subsections (4.1), (4.2) and (5), the amount of a member’s lifetime normal retirement pension is calculated according to the following rules: 1. The expressions “old employment” and “new employment” have the same meaning as in subsection 19.0.1 (1). 2. A separate calculation must be made in respect of the following periods of credited service: i. All credited service of the member up to and including the date on which the old employment was terminated. If the member has more than one period of old employment, the period described in this subparagraph ends on the date on which the first period of old employment was terminated. ii. If the member has more than one period of old employment, the credited service earned by the member for each period of old employment after the first period of old employment. iii. All credited service of the member on and after the date on which the new employment began. 3. The member’s pensionable earnings for each of those periods of credited service is determined as if the member had been a member of the System during the applicable period of credited service and not at any other time. 4. The amount of the member’s pension with respect to each of the periods of credited service is calculated in accordance with subsections (4.1), (4.2) and (5) as if the period were the member’s only period of credited service. The calculation must use the pensionable earnings for the period as determined under paragraph 3. 5. The member’s lifetime normal retirement pension is the sum of the pension amounts calculated under paragraph 4 for each of the periods of credited service. O. Reg. 317/99, s. 2 (1); O. Reg. 430/00, s. 2 (3, 4). (6) For the purposes of this section, the total number of years of credited service of a member may not exceed thirty-five. O. Reg. 775/91, s. 11 (3); O. Reg. 317/99, s. 2 (2). (6.1) Before January 1, 1998, the bridge pension payable to a member until he or she becomes or would have become entitled to a pension under the Canada Pension Plan that is unreduced for early retirement is calculated using the formula,  in which, “H” is the member’s credited service in respect of the years after 1965; “J” is the amount that is 0.7 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the two preceding years. O. Reg. 430/00, s. 2 (5). (6.2) From January 1, 1998 until December 31, 1998, the bridge pension payable to a member until he or she becomes or would have become entitled to a pension under the Canada Pension Plan that is unreduced for early retirement is calculated using the formula,  in which, “H” is the member’s credited service in respect of the years after 1965; and “K” is the amount that is 0.7 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the three preceding years. O. Reg. 430/00, s. 2 (5). (7) The bridge pension payable, (a) on or after January 1, 1999, to a member until he or she becomes or would have become entitled to a pension under the Canada Pension Plan that is unreduced for early retirement; or (b) on and after January 1, 2005, to a member until the end of the month in which the member attains 65 years of age and is entitled to a disability pension under the Canada Pension Plan, is calculated using the formula,  in which, “H” is the member’s credited service in respect of the years after 1965; and “L” is the amount that is 0.675 per cent of the lesser of, (a) the member’s pensionable earnings, or (b) the average of the Year’s Maximum Pensionable Earnings for the year in which the member ceased to be employed by the employer and for each of the four preceding years. O. Reg. 430/00, s. 2 (6); O. Reg. 402/04, s. 2. (7.0.1) In the circumstances described in subsection 19.0.1 (3) and despite subsection (6.1), (6.2) or (7), the amount of a member’s bridge pension is calculated according to the following rules: 1. Paragraphs 1 to 3 and 6 of subsection (5.1) apply with respect to the calculation. 2. The amount of the member’s pension with respect to each of the periods of credited service is calculated in accordance with subsection (6.1), (6.2) or (7) as if the period were the member’s only period of credited service. The calculation must use the pensionable earnings for the period as determined under paragraph 3 of subsection (5.1). 3. The member’s bridge pension is the sum of the pension amounts calculated under paragraph 2 for each of the periods of credited service. O. Reg. 317/99, s. 2 (3); O. Reg. 430/00, s. 2 (7, 8). (7.1) When a member ceases to be entitled to a bridge pension, he or she also ceases to be entitled to any inflation adjustments made to the bridge pension under section 21 or 22. O. Reg. 591/98, s. 6 (2). (8) Despite subsection (4.1), (4.2), (5) or (5.1), the lifetime normal retirement pension of a member for each year of credited service in respect of years after 1991 shall not exceed $1,722.22 or such other limit prescribed under the Income Tax Act (Canada). O. Reg. 775/91, s. 11 (4); O. Reg. 317/99, s. 2 (4); O. Reg. 430/00, s. 2 (9). (9) Despite subsection (4.1), (4.2), (5) or (5.1), for credited service in respect of years before 1990 accrued under section 26.1 or an agreement under section 26 entered into on or after the 8th day of June, 1990, if the member for whom such service accrues was not a member of any pension plan registered under the Income Tax Act (Canada) during any year in respect of that credited service, the lifetime normal retirement pension of a member, for each year of the credited service, shall not exceed $1,150 or such other limit prescribed under the Income Tax Act (Canada). O. Reg. 775/91, s. 11 (4); O. Reg. 317/99, s. 2 (5); O. Reg. 430/00, s. 2 (10). Disability Retirement Benefits