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O. Reg. 604/05: GENERAL
filed November 25, 2005 under Ontario Municipal Employees Retirement System Act, R.S.O. 1990, c. O.29
Skip to contentontario regulation 604/05
made under the
ontario municipal employees retirement system act
Made: November 23, 2005
Filed: November 25, 2005
Published on e-Laws: November 28, 2005
Printed in The Ontario Gazette: December 10, 2005
Amending Reg. 890 of R.R.O. 1990
(General)
1. Subsection 10 (2.1) of Regulation 890 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:
(2.1) The contributions payable by a member under subsection (1) in respect of his or her contributory earnings for any pay period or portion thereof on or after January 1, 2006 are,
(a) for a member whose normal retirement age is 65 years, 6.5 per cent of the contributory earnings which are equal to or less than the result obtained by dividing the Year’s Maximum Pensionable Earnings by the number of pay periods in the year, plus 9.6 per cent of the balance of the contributory earnings; and
(b) for a member whose normal retirement age is 60 years, 7.9 per cent of the contributory earnings which are equal to or less than the result obtained by dividing the Year’s Maximum Pensionable Earnings by the number of pay periods in the year, plus 10.7 per cent of the balance of the contributory earnings.
2. This Regulation comes into force on January 1, 2006.