Effective date: August 1, 2016
Application: All requests for pension commutations under the Old Act.
Policy subject: Annuities and pensions
To establish guidelines for commuting pensions payable under The Workers’ Compensation Act, 1974.
Commutation means a lump sum payment that is made, either at the time when the permanent disability pension was first established or at a later date, in exchange for whole or part of the worker’s permanent disability pension.
Section 76(1) of The Workers’ Compensation Act, 2013 (the “Act”) authorizes the WCB to commute permanent disability pensions in accordance with Section 82 of The Workers’ Compensation Act, 1974.
POL 11/2010 Pension Commutation (The Workers’ Compensation Act, 1974)
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