Effective date: January 1, 2021
Application:
Workers injured on or after January 1, 1980
Dependent spouses on or after January 1, 1989
Policy subject: Annuities and pensions
Purpose:
To provide guidelines for the administration of annuities.
POL 05/2020 provides guidelines for providing annuities. The following procedure details the steps for its ongoing operation.
Notice of Eligibility
Section 73(5) – Superannuation Plan
Salary Continuance
Suspension of Benefits
Purchase of an Annuity
Qualifying for an Annuity after age 65
Special Considerations – Lump Sum Payouts
Foreign Residents
Terminal Illness
Annuity Supplement
The Workers’ Compensation Act, 2013
Sections 2(1)(h), 73, 74, 75, 81
(1) POL and PRO 13/2013, Annuities (effective January 1, 2014 to December 31, 2020).
(2) Bill 58, an amendment to The Workers’ Compensation Act, 2013, to set the minimum annuity amount at $25,000 (effective January 1, 2014).
(3) POL 10/2008, Annuities (effective January 1, 2003 to December 31, 2013).
(4) PRO 04/2005, Annuities (effective January 1, 2003 to December 31, 2013).
(5) POL 04/2005, Annuities (effective January 1, 2003; however superseded by POL 10/2008 which was approved August 5, 2008 and made effective January 1, 2003).
(6) POL and PRO 04/2003, Annuities (effective January 1, 2003; however superseded by POL and PRO 04/2005 which was approved September 22, 2005 and made effective January 1, 2003).
(7) Bill 72, an amendment to The Worker’s Compensation Act, 1979, to state that if the amount set aside is less than $20,000, the worker or dependent spouse may receive a lump sum, in lieu of an annuity, at age 65 (effective January 1, 2003).
(8) POL and PRO 09/2002, Annuities (effective January 1, 2003; however superseded by POL and PRO 04/2003 which was approved May 13, 2003 and made effective as of January 1, 2003).
(9) POL and PRO 08/2000, Annuities (effective November 14, 2000 to December 31, 2002).
(10) POL 02/1999, Annuities (effective February 1, 1999 to November 13, 2000).
(11) POL 11/95, Modifications to Existing Policies on Annuity Provisions (effective 1995 to January 31, 1999).
POL 05/2020 Annuities
POL 10/2021 Suspension of Benefits
PRO 10/2021 Suspension of Benefits
POL 10/2016 Suspension of Benefits – While Incarcerated
PRO 10/2016 Suspension of Benefits – While Incarcerated
POL 07/2013 Consumer Price Index (CPI) – Annual Indexing
PRO 14/2019 Consumer Price Index (CPI) – Annual Increase – 2020
POL 04/2010 Attachment of Compensation
PRO 04/2010 Attachment of Compensation
POL 17/2016 Overpayment Recovery – Compensation
PRO 17/2016 Overpayment Recovery – Compensation
PRO 10/2020 Minimum Compensation (Section 75)
POL 09/2012 Termination – Age 63 and Over, Age 65, and Retirement