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Nova Scotia Teachers' Early Retirement Program (1994-98) Regulations

made under Section 54 of the
Teachers' Pension Act
R.S.N.S. 1989, c. 461
O.I.C. 94-595 (July 22, 1994), N.S. Reg. 115/94
as amended up to and including O.I.C. 2002-181 (April 26, 2002), N.S. Reg. 60/2002

1 These regulations may be cited as the Nova Scotia Teachers' Early Retirement Program (1994-98) Regulations.

2 The purpose of these regulations is to provide for a rejuvenation of the teaching profession by way of partial or full replacement of retiring teachers and administrators without increasing the unfunded liability of the Teachers' Pension Fund and without increasing expenditure of sums appropriated by the Legislature beyond current budget levels.

3 All the terms used in these regulations have the same meaning as defined in the Teachers' Pension Act, unless otherwise defined herein.

4 In these regulations

(a) "Act" means the Teachers' Pension Act;

(b) "early retirement program" means the program established by these regulations;

(c) "eligible early retirement period" means the period June 5, 1994 through July 31, 1998;

(d) "eligible teacher" means a teacher within the meaning of the Teachers' Pension Act and who is employed by a school board on the fifth day of June, 1994, and who, during the eligible early retirement period, has reached the age of fifty-two years and whose years of service and age total eighty-two or more, but does not include

(i) term teachers,

(ii) substitute teachers,

(iii) recipients of a pension under Sections 21 or 24 of the Act;

(e) "school board" means a school board as defined in the Education Act and includes the Nova Scotia Teachers' Union and the Nova Scotia Community College;

(f) "school year" means, for the purposes of Section 10 of these regulations, the period beginning on the first day of August in each year and ending on the 31st day of July next following, and for all other purposes of these regulations "school year" has the same meaning as is assigned to it by the Act and regulations made pursuant to Section 50 thereof, and, for greater certainty, school years shall be calculated and credited for purposes of these regulations in the same manner as is provided for by the Act and regulations made pursuant to Section 50;

(g) "substitute teacher" means a teacher or other qualified person engaged on a day to day basis to take the place of a person regularly employed as a teacher by a school board;

(h) "term teacher" means a teacher who is employed by a school board

(i) for a minimum of one hundred seventy five days to replace a regularly employed teacher who is on leave from a school board,

(ii) to replace a regularly employed permanent contract teacher who is job-sharing,

(iii) to job share for the full school year,

(iv) on a part time basis for the full school year,

(v) to replace, after the 20th day of school, a probationary or permanent teacher who has left the employ of the board, or

(vi) to fill, after the 20th day of school, a newly created position.

5 All eligible teachers are hereby designated as a special class of persons for the purpose of Section 54 of the Act and these regulations, and shall have the right to obtain the benefit of the early retirement program by retiring in accordance with these regulations during the eligible early retirement period.

6 An eligible teacher who elects to retire for the purposes of obtaining the benefit of the early retirement program must retire on the last day of the month in the school year of the eligible early retirement period as of which

(a) the eligible teacher has reached the age of fifty-two years; and

(b) the eligible teacher's age, and the number of years of service for which the teacher is entitled to pension credit under the Act, total eighty-two or more.

7 An eligible teacher who is eligible to retire in accordance with these regulations by July 31, 1994, must elect to retire, by application in writing to the Teachers' Pension Board by July 18, 1994 and must retire as of July 31, 1994.

8 Notwithstanding Section 7 an eligible teacher who is employed by the Nova Scotia Community College and who is eligible to retire in accordance with these regulations by July 31, 1994, must elect to retire, by application in writing to the Teachers' Pension Board by July 29, 1994 and must retire as of July 31, 1994.

9 An eligible teacher who is eligible to retire in accordance with these regulations after July 31, 1994 and by August 31, September 30, October 31, November 30 or December 31, 1994 must elect to retire, by application in writing to the Teachers' Pension Board, not later than July 31, 1994 in respect of retirements on August 31, September 30 and October 31, 1994 and not later than September 30, 1994 in respect of retirements on November 30 and December 31, 1994.

10 An eligible teacher who is eligible to retire in accordance with these regulations after December 31, 1994 and by January 31, 1995 or thereafter up to July 31, 1998, must elect to retire, by application in writing to the Teachers' Pension Board, not later than three months prior to the end of the month in which the eligible teacher becomes eligible to retire.

10A (1) Notwithstanding Regulations 6, 7, 8, 9, 10 and 18, an eligible teacher who was eligible to retire in accordance with these regulations on or before June 30, 1995 but has not so elected, may elect to retire as at July 31, 1995 by making application in writing to the Teachers' Pension Board no later than July 31, 1995.

(2) Where an eligible teacher elects to retire in accordance with subsection (1),

(a) a pension shall be payable to the teacher, commencing in August 1995 and shall be, notwithstanding Regulation 22, equal to the amount of the pension which would otherwise have been payable had the teacher elected to retire in accordance with Regulation 6, 7, 8, 9 or 10 as the case may be;

(b) the additional pensionable service which would be credited to the teacher under Regulation 12 shall be reduced by a period equal to the period of employment between the date at which the teacher was first eligible under these regulations and July 31, 1995.

(3) An eligible teacher, to whom this regulation applies, who does not elect in accordance with subsection (1), shall not be eligible at any time in the future to retire in accordance with these regulations regardless of the reasons for not so electing.
Section 10A added: O.I.C. 95-515, N.S. Reg. 103/95.

11 Notwithstanding Sections 6, 9 and 10, the date at which a teacher must retire pursuant to these regulations may be extended to the end of a school term, school semester or school year by mutual agreement in writing between the eligible teacher and the school board, but in no event later than July 31, 1995 in respect of retirements pursuant to Section 9 and no later than July 31 in the school year in which the teacher becomes eligible to retire pursuant to Section 10.
Section 11 replaced: O.I.C. 96-235, N.S. Reg. 65/96.

12 Upon retirement in accordance with these regulations, an eligible teacher shall be credited with an additional 3 years of pensionable service, to a maximum of 35 years of service, or service equal to the difference between age 65 and the eligible teacher's age at retirement, whichever is the lesser.

13 Where an eligible teacher

(a) elects to retire in accordance with these regulations; and

(b) enters into an agreement to extend the retirement date pursuant to Section 11 beyond the date upon which the teacher would otherwise be required to retire under Sections 7, 8, 9 and 10,
Clause 13(b) replaced: O.I.C. 96-235, N.S. Reg. 65/96.

the additional pensionable service which would be credited to the teacher upon retirement under Section 12 shall be reduced by the period of such extension beyond the retirement date elected by the eligible teacher prior to having agreed upon the extension.
Section 13 amended: O.I.C. 96-235, N.S. Reg. 65/96.

14 Notwithstanding Section 13, where an eligible teacher who is employed by the Nova Scotia Community College

(a) elects to retire in accordance with these regulations; and

(b) enters into an agreement to extend the retirement date pursuant to Section 11 beyond the date upon which the teacher would otherwise be required to retire under Sections 7, 8, 9 and 10,
Clause 14(b) replaced: O.I.C. 96-235, N.S. Reg. 65/96.

the additional pensionable service which would be credited to the teacher upon retirement under Section 12 shall be reduced by that part of the period of such extension beyond the retirement date elected by the eligible teacher prior to having been granted the extension which falls after the 31st day of October, 1994.
Section 15 repealed: O.I.C. 96-235, N.S. Reg. 65/96.

16 (1) Additional pensionable service referred to in Section 12 shall not be taken into account for the purposes of calculating a service award granted under the terms of a local professional agreement.

(2) For the purpose of this Section, service awards, where applicable, under a professional agreement will be calculated as of the date a teacher retires under these regulations but the date payment of such service award shall be determined by the school board provided the service award is paid no later than the date the teacher would have been eligible for normal retirement pursuant to the Teachers' Pension Act.

17 Any person who has applied for, or receives, the benefits of an early retirement program or early retirement incentive program, other than the early retirement program authorized by these regulations, shall not be eligible to retire in accordance with these regulations.

18 An eligible teacher, who does not elect to obtain the benefit of the early retirement program within the times prescribed by these regulations for retirement during the eligible early retirement period and otherwise comply with the requirements of these regulations, shall not be eligible to be credited with the additional pensionable service referred to in Section 12 of these regulations.

19 Notwithstanding anything in these regulations, where a teacher is given notice of termination for other than just cause during the eligible early retirement period, and except for such notice of termination, would be an eligible teacher, such teacher shall be deemed to be an eligible teacher for the purpose of these regulations and shall be eligible to a pension calculated in accordance with Section 22 of these regulations based upon such teacher's years of pensionable service at the time that teacher is terminated, and shall be credited with the additional pensionable service referred to in Section 12 of these regulations.

20 Additional pensionable service credited pursuant to Section 12 of these regulations shall be treated as pensionable service under the Canada Pension Plan for the purpose of integrating a pension under the Act with the Canada Pension Plan.

21 The cost of pensionable service credited pursuant to Section 20 and pensions payable pursuant to Section 22 shall be charged to the Teachers' Pension Fund.

22 The annual pension payable to an eligible teacher shall be computed in accordance with Section 21 of the Teachers' Pension Act with reference to salary in respect of which deductions have been made by a school board and remitted to the Minister of Finance pursuant to Section 11 of the Teachers' Pension Act and paid into the Teachers' Pension Fund.

23 The Minister shall make payments into the Fund in the amounts and at the times set out in Schedule A.
Section 23 replaced: O.I.C. 2002-181, N.S. Reg. 60/2002.

24 Teachers employed with school boards and who are not eligible teachers within the meaning of these regulations and teachers employed with the Atlantic Provinces Special Education Authority and the Nova Scotia College of Art and Design may retire in accordance with these regulations, or under a similar early retirement program having substantially the same purpose, if separately approved by the Minister and the Minister of Education and, in such event, these regulations apply, with the necessary changes as required by the circumstances.

Section 25 repealed: O.I.C. 2002-181, N.S. Reg. 60/2002.

Schedule A

Nova Scotia Teachers' Pension Plan
Early Retirement Programme
Schedule of Payments

Payment Due
Date		 Amount of
Payment Expected		 Principal Portion Interest Portion
Jan. 31, 2002$64,231,362.96  
Jan. 31, 2002$2,561,780.08$1,878,989.91$682,790.17
Feb. 28, 2002$2,561,780.08$1,890,930.49$670,849.59
March 31, 2002$2,561,780.08$1,902,946.96$658,833.12
April 30, 2002$2,561,780.08$1,915,039.78$646,740.30
May 31, 2002$2,561,780.08$1,927,209.46$634,570.62
June 30, 2002$2,561,780.08 $1,939,456.47 $622,323.61
July 31, 2002$2,561,780.08 $1,951,781.31 $609,998.77
Aug. 31, 2002$2,561,780.08 $1,964,184.46 $597,595.62
Sept. 30, 2002$2,561,780.08 $1,976,666.44 $585,113.64
Oct. 31, 2002$2,561,780.08 $1,989,227.74 $572,552.34
Nov. 30, 2002$2,561,780.08 $2,001,868.86 $559,911.22
Dec. 31, 2002$2,561,780.08 $2,014,590.32 $547,189.76
Jan. 31, 2003$2,561,780.08 $2,027,392.61 $534,387.47
Feb. 28, 2003$2,561,780.08 $2,040,276.27 $521,503.81
March 31, 2003$2,561,780.08 $2,053,241.79 $508,538.29
April 30, 2003$2,561,780.08 $2,066,289.71 $495,490.37
May 31, 2003$2,561,780.08 $2,079,420.55 $482,359.53
June 30, 2003$2,561,780.08 $2,092,634.83 $469,145.25
July 31, 2003$2,561,780.08 $2,105,933.08 $455,847.00
Aug. 31, 2003$2,561,780.08 $2,119,315.84 $442,464.24
Sept. 30, 2003$2,561,780.08 $2,132,783.65 $428,996.43
Oct. 31, 2003$2,561,780.08 $2,146,337.04 $415,443.04
Nov. 30, 2003$2,561,780.08 $2,159,976.56 $401,803.52
Dec. 31, 2003$2,561,780.08 $2,173,702.75 $388,077.33
Jan. 31, 2004$2,561,780.08 $2,187,516.17 $374,263.91
Feb. 29, 2004$2,561,780.08 $2,201,417.38 $360,362.70
March 31, 2004$2,561,780.08 $2,215,406.92 $346,373.16
April 30, 2004$2,561,780.08 $2,229,485.36 $332,294.72
May 31, 2004$2,561,780.08 $2,243,653.27 $318,126.81
June 30, 2004$2,561,780.08 $2,257,911.22 $303,868.86
July 31, 2004$2,561,780.08 $2,272,259.77 $289,520.31
Aug. 31, 2004$1,716,600.72 $1,441,520.14 $275,080.58
Sept. 30, 2004$1,704,975.13 $1,439,055.11 $265,920.02
Oct. 31, 2004$1,689,861.87 $1,433,086.74 $256,775.13
Nov. 30, 2004$1,674,748.61 $1,427,080.44 $247,668.17
Dec. 31, 2004$1,654,985.12 $1,416,385.75 $238,599.37
Jan. 31, 2005$1,614,295.60$1,384,697.06$229,598.54
Feb. 28, 2005$1,586,394.22$1,365,595.14$220,799.08
March 31, 2005$1,561,980.50$1,349,859.49$212,121.01
April 30, 2005$1,531,754.00$1,328,211.06$203,542.94
May 31, 2005$1,514,315.63$1,319,213.19$195,102.44
June 30, 2005$1,502,690.05$1,315,970.93$186,719.12
July 31, 2005$1,412,010.57$1,233,654.17$178,356.40
Aug. 31, 2005$1,364,345.70$1,193,828.91$170,516.79
Sept. 30, 2005$1,344,256.72$1,181,326.46$162,930.26
Oct. 31, 2005$1,317,889.92$1,162,466.74$155,423.18
Nov. 30, 2005$1,287,756.41$1,139,720.47$148,035.94
Dec. 31, 2005$1,262,645.17$1,121,851.91$140,793.26
Jan. 31, 2006$1,243,811.75$1,110,147.62$133,664.13
Feb. 28, 2006$1,207,400.46$1,080,791.08$126,609.38
March 31, 2006$1,165,966.90$1,046,225.72$119,741.18
April 30, 2006$1,134,577.84$1,021,485.21$113,092.63
May 31, 2006$1,125,788.91$1,019,187.60$106,601.31
June 30, 2006$1,105,699.92$1,005,575.33$100,124.59
July 31, 2006$1,027,855.05$ 934,120.68$93,734.37
Aug. 31, 2006$993,954.87$906,156.64$87,798.23
Sept. 30, 2006$974,970.78$892,930.99$82,039.79
Oct. 31, 2006$943,782.61$867,417.21$76,365.40
Nov. 30, 2006$909,882.36$839,029.21$70,853.15
Dec. 31, 2006$877,338.12$811,816.82$65,521.30
Jan. 31, 2007$858,353.98$797,991.61$60,362.37
Feb. 28, 2007$825,809.74$770,518.44$55,291.30
March 31, 2007$804,113.58$753,718.76$50,394.82
April 30, 2007$768,857.32$723,252.22$45,605.10
May 31, 2007$756,653.23$715,644.25$41,008.98
June 30, 2007$747,161.16$710,699.95$36,461.21
July 31, 2007$603,424.10$571,479.23$31,944.87
Aug. 31, 2007$585,795.97$557,482.73$28,313.24
Sept. 30, 2007$555,041.68$530,271.13$24,770.55
Oct. 31, 2007$519,893.92$498,493.13$21,400.79
Nov. 30, 2007$480,352.69$462,119.72$18,232.97
Dec. 31, 2007$459,849.83$444,553.53$15,296.30
Jan. 31, 2008$439,346.97$426,875.72$12,471.25
Feb. 29, 2008$370,515.94$360,757.39$9,758.55
March 31, 2008$328,045.73$320,579.72$7,466.01
April 30, 2008$298,755.93$293,327.14$5,428.79
May 31, 2008$263,608.17$260,043.41$3,564.76
June 30, 2008$251,892.25$249,980.01$1,912.24
July 31, 2008$51,257.12$50,933.45$323.67
Aug. 31, 2008$0.00$0.00$0.00

Schedule A added: O.I.C. 2002-181, N.S. Reg. 60/2002.