Public Service Superannuation Regulations

21 (1) A person who ceased to be employed in the public service, who was employed by an eligible employer and who exercised an option under section 12, 12.1, 13 or 13.001 of the Act or is deemed to have exercised an option under paragraph 10(5)(a) or (b) of the Act, or who exercised an option in favour of the transfer value referred to in section 13.01 of the Act, may revoke the option and exercise a new option if they have not yet received a benefit under the Act and either of the following conditions is met:

• (a) the person, on ceasing to be employed in the public service, reasonably expected that an agreement referred to in subsection 40.2(2) of the Act would be entered into and

  • (i) no such agreement had been entered into at the time the contributor applied to revoke the option, or

  • (ii) the agreement was entered into after the contributor ceased to be employed in the public service, but the contributor’s pensionable service could not be transferred under the agreement; or

• (b) the person, on ceasing to be employed in the public service, took all necessary actions to transfer their pensionable service to the eligible employer but, through no fault on the part of the person, the transfer could not be validly completed.

(2) A person who ceased to be employed in the public service before October 15, 2000, who attempted to transfer their pensionable service under an agreement of the type referred to in subsection 40(2) of the Act and who exercised an option under section 12 or 13 of the Act or is deemed to have exercised an option under paragraph 10(5)(a) or (b) of the Act, or who exercised an option in favour of the transfer value referred to in section 13.01 of the Act, may revoke the option and exercise a new option if they have not yet received a benefit under the Act and the transfer could not be validly completed.

(3) A person who ceased to be employed in the public service on or after September 1, 2000 but before October 15, 2000, who attempted to transfer their pensionable service under an agreement of the type referred to in subsection 40(2) of the Act and who exercised an option under section 12 or 13 of the Act or is deemed to have exercised an option under paragraph 10(5)(a) or (b) of the Act, or who exercised an option in favour of the transfer value referred to in section 13.01 of the Act, may revoke the option and exercise a new option if

• (a) the prior option was exercised or was deemed to have been exercised before December 13, 2004;

• (b) it was exercised or was deemed to have been exercised because the transfer of the person’s pensionable service could not be validly completed; and

• (c) the person repays the amount of any benefit received as a result of the exercise of the prior option.