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Deferred and Reduced Superannuation Allowance Regulations

made under subsections 8(1) and 16(6) of the
Public Service Superannuation Act
R.S.N.S. 1989, c. 377
O.I.C. 90-41 (January 16, 1990), N.S. Reg. 16/90

1 These regulations may be cited as the Deferred and Reduced Superannuation Allowance Regulations.

2 The commuted value of the deferred superannuation allowance referred to in subsection 8(1) of the Act shall be calculated in accordance with the recommended computation of minimum transfer values of deferred pensions issued by the Canadian Institute of Actuaries, dated December 1987, or any subsequent pronouncement by that body, except that in no case shall the commuted value be calculated in respect of an employee who has reached the age of fifty-five years.

3 For the purposes of subsection 16(6) of the Act, early retirement allowances for persons between the ages of 55 and 60 years of age shall be calculated by applying an actuarial equivalent reduction factor of 0.5% for each month the person is under the age of 60, as illustrated in the following schedule:

Age at retirement	Amount payable using reduction of 0.5% per month
60	1.000
59	.94
58	.88
57	.82
56	.76
55	.70

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