1 The MLA s Annuity Payment Regulations Repealed by Saskatchewan Regulations 62/2008 (effective July 25, 2008) Formerly Chapter M-12.1 Reg 1 (effective April 1, 1979) as amended by Saskatchewan Regulations 73/97. NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and the original statutes and regulations should be consulted for all purposes of interpretation and application of the law. In order to preserve the integrity of the original statutes and regulations, errors that may have appeared are reproduced in this consolidation.
2 Table of Contents 1 Title 2 Interpretation 3 Form of Annuity 4 Elections for single member 5 Election re payments 6 Election re receipt of annuity 7 Amount of alternative annuities 8 Election re purchase 9 Manner of and forms for election 10 Elections irrevocable on first instalment 11 Certain elections void on death 12 Certain payments 13 Guarantee period for payments 13.1 Enforcement of maintenance orders
3 CHAPTER The Members of the Legislative Assembly Superannuation Act, 1979 Title 1 These regulations may be cited as The MLA s Annuity Payment Regulations. Interpretation 2 In these regulations: (a) Act mean The Members of the Legislative Assembly Superannuation Act, 1979; (b) copensioner means a person who is a dependant of a member and who is entitled to receive an annuity after the death of a member and includes his spouse; (c) dependant means: (i) a person who is: (A) a son, daughter, step-son, step-daughter, adopted child, a person to whom a member stands in loco parentis and a person for whose support a member was at the time of his death liable pursuant to any Act respecting the welfare of children; and (B) under the age of 18 years and who is dependant on the member or who is of the age of 18 years or more who by reason of physical or mental infirmity is unable to provide himself with the necessaries of life without the assistance of the member; (ii) a parent of a member who by reason of physical or mental infirmity is unable to provide himself with the necessaries of life without the assistance of the member and the mother of a member is deemed to be dependent on the member if she is unable to provide herself with the necessaries of life without his assistance and if she is: (A) a widow; (B) married to a man who is an inmate of a jail or penitentiary and has been committed to the jail or penitentiary for a period of not less than six months; (C) married to a man who has been committed to an institution for incurables or for the feeble minded or insane; or (D) married to a man who is permanently incapacitated by incurable disease or disabling injury from contributing adequately to her support or that of her family; (d) member means a person who elects to receive or is entitled to receive an annuity pursuant to the Act;
4 (e) necessaries of life means food, clothing, lodging and other means that at the time of a member s election or entitlement to receive an annuity are available to a dependant and are reasonably necessary to the maintenance of life and to the continuation of the degree of health then enjoyed by the dependant; (f) single means not married; (g) spouse means the spouse of a member at the time the member became entitled to receive an annuity pursuant to the Act. 15 Mar 85 cm-12.1 Reg 1 s2. Form of Annuity 3(1) The guaranteed life annuity that a member elects or is entitled to receive pursuant to section 32 of the Act is required to be: (a) in the case of a single member, an annuity payable for the lifetime of the member with the guarantee that, if the member dies before the total of all monthly instalments paid to the member equals the lump sum used to purchase the annuity, the difference between that total and the lump sum will become payable to his estate; (b) in the case of a married member, an annuity payable in full until the death of both of the member and his spouse. (2) In the event that both the member and his spouse die before the total of all monthly annuity payments made pursuant to clause (1)(b) equals the lump sum used to purchase the annuity, the difference between that total and the lump sum becomes payable to the estate of the member or his spouse, whichever dies last. 15 Mar 85 cm-12.1 Reg 1 s3. Elections for single member 4(1) Notwithstanding section 3, a single member may elect to receive his annuity in: (a) an annuity payable for the lifetime of the member with a guarantee that, if the member dies before he has received 180 monthly instalments, his annuity payments will continue to be paid to his estate until a total of 180 instalments have been paid; or (b) an annuity payable in full until the death of both of the member and his appointed copensioner. (2) In the event that both the member and his copensioner die before the total of all monthly annuity payments made pursuant to clause (1)(b) equals the lump sum used to purchase the annuity, the difference between that total and the lump sum becomes payable to the estate of the member or his copensioner, whichever dies last. 15 Mar 85 cm-12.1 Reg 1 s4.
5 Election re payments 5 A member may elect that, in lieu of the annuity payable in accordance with clause 3(1)(b) or 4(1)(b), the monthly annuity be reduced on the death of the member by: (a) 25% of the full amount payable before the member s death; (b) 33 1/3% of the full amount payable before the member s death; or (c) 50% of the full amount payable before the member s death. 15 Mar 85 cm-12.1 Reg 1 s5. Election re receipt of annuity 6(1) Notwithstanding sections 3 to 5, a member may elect to defer receipt of all or a part of his annuity until the earlier of: (a) a date specified in writing by him; or (b) the first day of the month prior to his attainment of age 71. (2) The balance of the amount left to the credit of a member who makes an election pursuant to subsection (1) continues to form a part of the fund and to earn interest until the date specified by the member for his annuity or the balance of his annuity to commence. 15 Mar 85 cm-12.1 Reg 1 s6. Amount of alternative annuities 7 An alternative annuity payable in accordance with sections 4 and 5 is required to be of an amount that is the actuarial equivalent of the annuity payable to the member in the normal form specified in section 3. 15 Mar 85 cm-12.1 Reg 1 s7. Election re purchase 8 A member shall elect to purchase his annuity: (a) from the Saskatchewan Pension Annuity Fund; or (b) through the Public Employees Benefits Agency from a corporation that sells annuities and is licensed under The Saskatchewan Insurance Act. 15 Mar 85 cm-12.1 Reg 1 s8; 1 Aug 97 SR 73/97 s3. Manner of and forms for election 9 A member may: (a) make an election pursuant to sections 4 to 8; or (b) change or revoke his election or his copensioner; at any time prior to the date he becomes entitled to an annuity pursuant to the Act on a form provided by the minister. 15 Mar 85 cm-12.1 Reg 1 s9.
6 Elections irrevocable on first instalment 10 No member may change his election or make an election pursuant to these regulations on or after the date that the first instalment of his annuity falls due. 15 Mar 85 cm-12.1 Reg 1 s10. Certain elections void on death 11 An election of an annuity payable that is dependent on the life of the member and his copensioner is void if either the member or the copensioner die prior to the date the member becomes eligible for an annuity pursuant to the Act. 15 Mar 85 cm-12.1 Reg 1 s11. Certain payments 12(1) If any annuity payable pursuant to the Act is less than $25 per month, the minister may direct that: (a) payments be made quarterly; or (b) if quarterly payments are less than $25, a lump sum settlement be made. (2) A lump sum payment made pursuant to clause (1)(b) is required to be the actuarial equivalent of the payments which it replaces. 15 Mar 85 cm-12.1 Reg 1 s12. Guarantee period for payments 13 Any annuity payable pursuant to the Act is required to be payable at least for the life of the member and the guarantee period is not to exceed the lessor of: (a) 15 years; and (b) the period from the date of commencement of the annuity payments until the date on which the member would attain age 85. 15 Mar 85 cm-12.1 Reg 1 s13. Enforcement of maintenance orders 13.1 For the purposes of clause 37(3)(a) of the Act, the cost of complying with an attachment is deemed to be $200. 1 Aug 97 SR 73/97 s4. REGINA, SASKATCHEWAN Printed by the authority of THE QUEEN S PRINTER Copyright 1997