If a vested MLA terminates or resigns:
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If they are eligible for a pension, they may choose to start their pension immediately.
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If they are not yet eligible for a pension, they must defer their pension until they are eligible to receive it.
If a non-vested MLA terminates or resigns:
They will receive a refund of their contributions plus interest. This can be taken as cash with income tax deducted or transferred to a personal RRSP.
Vested:
To be eligible for a pension under the Plan, you must be vested. You are vested if:
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you were a member on November 1, 2013 or became a member subsequent to that date, and served for at least two years, or
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you were not a member on November 1, 2013 and did not become a member subsequent to that date, but you served for at least five years during at least two General Assemblies