Document ID: chunk:federal_register_of_legislation:F2004C00098:reg:70
Version: federal_register_of_legislation:F2004C00098
Segment Type: reg
Provision Reference: reg 70
Character Range: 28205–29873

70                   Omit subsections (2), (3) and (4), substitute the following subsection:

                      '(2) The annual rate of pension to which a person to whom this section applies is entitled is an amount per annum calculated in accordance with the formula:
                     where:
                     A is:
                      (a) except where paragraph (b) applies — an amount equal to 70 percent of that person's final annual rate of salary; or
                      (b) where the person is a person to whom section 223 or 224 applies — an amount equal to the annual rate of the pension to which the person would be entitled under subsection 223 (3) or 224 (3), as the case may be, if the period of prospective service of the person were not less than 20 years and the person were entitled to invalidity benefit by reason of subsection 66 (1) and did not make an election under section 68 or 69.
                     F is such factor as, having regard to the number of complete years included in the person's period of contributory service, is applicable in accordance with Schedule 7 or, in a case to which subsection (3) applies, the substitute factor specified in that subsection.
                      '(3) If the period of contributory service of the person consists of a number of complete years and a part of a year, the substitute factor referred to in the definition of factor F in subsection (2) is the factor calculated in accordance with the formula:
                     where:
                     F is the factor referred to in subsection (2); and
                     D is the number of days included in that part of a year.'.