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Main -> Superannuation Plan -> Termination (For Reasons Other Than Retirement -> Amount of Refund
B. Amount of Refund
The compound annual interest rate payable on a refund of contributions is as follows:
(i) 4% to June 30, 1976
(ii) 6% to June 30, 1980
(iii) 7% to June 30, 1994
(iv) interest rate earned by the Fund thereafter
(v) all refunds are payable in one lump sum. Income tax at a nominal rate is deducted from the refund unless the funds are transferred into an RRSP. Matching government contributions remain in the Teachers' Superannuation Fund.
 
Refund Amount
Income Tax
 
less than $5,000
10%
 
$5,000-$15,000
20%
 
over $15,000
30%
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ADMINISTRATION
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FUNDS
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CONTRIBUTION RATE
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TEACHING SERVICE
* Contributory Teaching Service
* Income Continuance Plan Service
* Purchase of Service
* Service on a Part-Time Contract
* Substitute Service
* Accumulation of Partial or Substitute Service
* Qualifying Service
* Procedures
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RECIPROCAL TRANSFER AGREEMENTS
* Procedure
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ELIGIBILITY
* Retirement with an Unreduced Allowance
* Retirement with a Reduced Allowance
* Procedures
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RETIREMENT BENEFITS
* Prior to Age 65
* Age 65
* Minimum Allowance
* Procedures
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INDEXING OF ALLOWANCES
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DEFERRED ALLOWANCES
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SURVIVOR BENEFITS
* Death Before Retirement
* Death After Retirement
* Adjustment at Age 65
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TERMINATION
(For Reasons Other Than Retirement)
* Conditions for a Refund
* Amount of Refund
* Reinstatement of Refund
* Commuted Value
* Spouse of Deceased Teacher
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SUPERANNUATES WHO RETURN TO TEACHING
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PENSION DIVISION ON MARRIAGE BREAKDOWN
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VOLUNTARY CONTRIBUTIONS
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SUMMARY
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PENSION AUTHORITIES' CONTACT
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