BILL NO. 36

(6) A pension payable pursuant to subsection (2) or (3) shall be paid out of the General Revenue Fund of the Province.

24 (1) Notwithstanding subsections (2) and (3) of Section 23, a pension is payable in respect of a judge who is appointed on or after the first day of April, 2002, to a judge who

(a) has continued in office for at least twenty years, has attained the age of sixty years and ceases to hold office;

(b) has continued in office for at least ten years and resigns if, in the opinion of the Governor in Council, the resignation is conducive to the better administration of justice or in the public interest;

(c) has continued in office for at least five years and has ceased to hold office by reason of having attained the age of sixty-five years; or

(d) has continued in office for at least five years but fewer than ten years, has become afflicted with a mental or physical infirmity that disables the judge from the due execution of judicial duties, and has resigned as a judge or, by reason of such infirmity, is removed as a judge.

(2) Subject to subsection (1) of Section 25, a pension payable pursuant to subsection (1) shall be calculated as an amount equal to

(a) where the judge has not yet attained the age of sixty-five years, three and one-half per cent of the average of the judge's best three years' salaries multiplied by the number of years of service as a judge to a maximum of twenty years; or

(b) where the judge has attained the age of sixty-five years, the amount otherwise determined in accordance with clause (a) without reference to age, less an amount calculated as seven tenths of one per cent of the average of the best five years' salaries that are within the Year's Maximum Pensionable Earnings for those years, as determined pursuant to the Canada Pension Plan, multiplied by the number of years of pensionable service determined pursuant to the Public Service Superannuation Act.

(3) The spouse, common-law partner, child or dependant of a judge who dies and would have been entitled to receive a pension, if the judge had attained the age of sixty-five years immediately prior to death, or was in receipt of a pension pursuant to subsection (1) at the time of death, is entitled to a pension in the same percentages and payable terminating under the same terms and conditions as if the judge were receiving or would have received such pension pursuant to the Public Service Superannuation Act.

25 (1) A pension payable pursuant to subsection (1) or (3) of Section 24 shall be reduced by any amount payable pursuant to the Public Service Superannuation Act.

(2) A pension payable pursuant to subsection (1) or (3) of Section 24 in excess of any amount payable pursuant to the Public Service Superannuation Act shall be paid out of the General Revenue Fund of the Province.

(3) A pension payable pursuant to subsection (1) or (3) of Section 24 shall be increased in accordance with increases in the cost of living in the amount from time to time determined in the manner prescribed by the Governor in Council pursuant to the Public Service Superannuation Act.

26 (1) Notwithstanding Section 21N and subsection (3) of Section 23, sitting judges as of the thirty-first day of March, 2002, excluding retired judges and judges elevated from the Family Court to the Supreme Court (Family Division), may elect to receive pension benefits to which judges appointed on or after the first day of April, 2002, are entitled, and may make this election at the time of retirement.

(2) A judge who elects to retire before age sixty-five, shall give the Chief Judge notice of this election at least three months before retiring, unless the Chief Judge waives the whole or any portion of the notice period.

(3) The pension benefits of a judge appointed on or after the first day of April, 2002, is governed by Sections 24, 25 and this Section.

(4) On and after the first day of January, 2011, a pension payable pursuant to subsection (1) or (3) of Section 24 shall be increased in accordance with increases in the cost of living in the amounts and times determined and recommended by a tribunal.

27 (1) Notwithstanding the Public Service Superannuation Act, the respective contributions of the Province and the judges for pension benefits are the contributions determined and recommended by a tribunal pursuant to clause (d) of subsection (1) of Section 21E.

(2) Where the contributions determined and recommended by a tribunal exceed those required pursuant to the Public Service Superannuation Act, the contributions made in excess of those required by the Public Service Superannuation Act shall be paid to the General Revenue Fund of the Province.

(3) Where the contributions required pursuant to the Public Service Superannuation Act exceed those determined and recommended by a tribunal, the amount by which the contributions required pursuant to the Public Service Superannuation Act exceed those determined and recommended by a tribunal shall be paid out of the General Revenue Fund of the Province.

28 For the purpose of clause (c) of subsection (2) of Section 23, clause (c) of subsection (3) of Section 23 and subsection (3) of Section 24, a reference to the Public Service Superannuation Act is a reference to that Act as it read on the tenth day of May, 2010.