96AA
In forceLump sum instead of spouse’s pension
Volume 1Parts I to VIA (sections 1 to 110S)
Part VIBenefits payable to spouses and children
Division 3Spouse’s benefit on death of pensioner
96AA Lump sum instead of spouse’s pension
(1)
If the annual rate at which spouse’s pension is payable to a person under subsection 96(2A) is less than the annual rate determined in writing by CSC for the purposes of this section, the person may, not later than 3 months after the pension becomes payable, by notice in writing to CSC, elect to commute that pension into a lump sum benefit payable to him or her.
(2)
If the person makes the election, there is payable to the person, instead of spouse’s pension, a lump sum of an amount determined in writing by CSC after consultation with an actuary.
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