BILL NO. 68
1st Session, 60th General Assembly
55 Elizabeth II, 2006
Private Member's Bill
Pension Benefits Act
First Reading: November 1, 2006
Second Reading: November 10, 2006
Third Reading: November 23, 2006 (WITH COMMITTEE AMENDMENTS) (LINK TO BILL AS PASSED)
Be it enacted by the Governor and Assembly as follows:
(2) The owner of a prescribed life income fund or a prescribed locked-in retirement account may apply in writing, or by any other prescribed means, to the Superintendent for his or her consent under subsection (1).
(3) Notwithstanding any other enactment, upon consent by the Superintendent to the commutation or surrender, in whole or in part, of a prescribed life income fund or a prescribed locked-in retirement account, the amount surrendered must not be considered when determining, for the purpose of any other Act, the income or assets available to a person.
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