92Commutation of small associate pension

92 Commutation of small associate pension

(1) If the annual rate of associate pension to which the non‑member spouse becomes entitled is less than $1 300, the non‑member spouse may elect to commute the pension. (2) The election must be made in writing to the Commissioner not later than 3 months after the non‑member spouse becomes entitled to the pension. (3) If the non‑member spouse makes the election, the non‑member spouse is entitled instead to a lump sum equal to the transfer amount. (4) The amount specified in subregulation (1) is to be indexed in the same way, and at the same time, as a standard pension is indexed under Part XA.