Canons of the Diocese of Montreal

Canon 24 - Main Page

• Section 1
• Section 2
• Section 3
• Section 4
• Section 5
• Section 6
• Section 7
• Section 8
• Section 9
• Section 10
• Section 11
• Section 12
• Section 13
• Section 14
• Schedule A
• Schedule B

10.1 Any annual pension due from the Fund shall be payable in equal monthly instalments. The first payment shall be made on the last day of the month following the Pensioner's retirement and the last payment on the last day of the month in which the Pensioner dies, unless an optional form has been elected pursuant to this Section 10.

10.2 The Committee shall grant any Member or Past Member or Disabled Member who has no Eligible Spouse the option to convert the pension payable into a Joint and Survivor pension with 66-2/3% of the Member's or Past Member's pension being payable to a designated beneficiary upon the Member's or Past Member's death. The amount of pension payable under this optional form shall be the Actuarial Equivalent of the Member's or Past Member's pension otherwise payable under the Plan. The election of such an option must be filed with the Committee prior to the date benefit payments are due to commence. The election of an option cannot be modified on or after the date on which benefit payments are due to commence.

The designated beneficiary must be a dependent of the Member or Past Member (as defined in the Income Tax Act) and the pension payable to the designated beneficiary must cease when the individual no longer satisfies the conditions to be considered dependent under the Income Tax Act.

10.3 Each member or Past Member, having elected an option, may by written designation made to the Committee and duly approved and filed with the Committee not later than two months before the pension commences, revoke such option.

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Note: this text is provided for information purposes only. While every effort has been made to ensure that this text is accurate, in the event of any discrepancy between this version and the official printed version, the latter shall prevail.