Province of Ministry of 544 Michigan Street
British Columbia Provincial Secretary Bast WIN)

‘Victoria:
and Government Services British Columbia
OFFICE OF THE a vaV 4R5
SUPERANNUATION COMMISSIONEH Tel eph on e: 387- 1002

 

 

 

ANAEPLY BELEN TO
February 1986

To: Principals of Colleges covered by the Pension (College) Act

For your information, I wish to advise that there has been an
extension of the application period for the pre-retirement leave

described in my letter to you dated June 19, 1985. The details are as
follows:

1. Contributors to the College Pension Plan may be granted leave of
absence to expire not later than August 31, 1988 and purchase the
service without having to return to employment after the leave under
the following conditions:

(a) The College Board must supply written proof of the
approval of the leave of absence to the Superannuation
Commission within two calendar months of the commencement
date of the leave.

(b) The employee must qualify for an immediate monthly pension
benefit at the expiration of the leave of absence, that
is, the employee must be age fifty-five or older and have
completed at least 10 years of contributory service on
completion of the leave.

(c) The employee must contribute double the regular superan-
nuation contributions for the period of absence without
pay calculated on the last complete month of pay prior to
the leave.

(d) If the leave of absence is with partial pay, contributions
are to be paid on the actual salary received by the
employee during the period of absence. The employee may
make double contributions on the difference between the
actual salary paid while on leave of absence and the
monthly salary received for the last complete month of
pay prior to the leave.

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