GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Reserve Force Pension Plan Regulations — 26
Crediting of earnings 26 (1) The past earnings shall be counted as pensionable earnings in respect of each day that the participant earned them and in the same proportion as the amount to be paid bears to the full amount. Date of crediting (2) The past earnings shall come to the participant’s credit on the date of the election.
Reserve Force Pension Plan Regulations — 27
When entitled to elect 27 A participant may make a transfer value earnings election commencing the day on which they again become a participant.
Reserve Force Pension Plan Regulations — 28
Election period ends 28 The participant shall make the transfer value earnings election no later than one year after the date of the written notice advising the participant that they have become entitled to make the election.
Reserve Force Pension Plan Regulations — 29
Deferment of entitlement 29 A participant who ceases to be a participant before the expiry of the period for making a transfer value earnings election shall, on again becoming a participant, be entitled to make the election until the end of one year after the date of the written notice advising the participant that they have again become entitled to make it. SOR/2016-64, s. 64
Reserve Force Pension Plan Regulations — 30
Amount to pay 30 (1) A participant who makes an election to count transfer value earnings as pensionable earnings shall pay an amount equal to the transfer value that was determined under section 56, together with interest. Interest to be paid (2) Interest shall be calculated in accordance with the rates determined under subsection (3), compounded quarterly for the period beginning on the day on which the payment of the transfer value was effected and ending on the last day of the month preceding the month in which the election was made. Rate of interest (3) The rate of interest in respect of each quarter is equal to the rate of return that existed in respect of the second quarter preceding the quarter for which interest is being calculated and set out in the table entitled “ Balanced ” on the line “ Mercer Median ” in the column entitled “ 3 Months ” in the Summary of Investment Performance Survey of Canadian Institutional Pooled Funds , published by Mercer Investment Consulting, as amended from time to time. Zero interest (4) If the amount of interest calculated under subsection (2) is negative, the amount of interest for the purpose of subsection (1) shall be zero.
Reserve Force Pension Plan Regulations — 31
90-day time limit 31 (1) In respect of a transfer value earnings election, only payments received no later than 90 days after the date of the written notice advising the participant of the amount to be paid will be taken into account. Payment received late (2) Payments received no later than 120 days after the date of the notice will be taken into account if the participant establishes that they gave written instructions in a timely fashion to cause the payments to be received no later than 90 days after that date and that the payments were received after that time through no fault of the participant. SOR/2016-64, s. 65
Reserve Force Pension Plan Regulations — 32
Crediting of earnings 32 (1) The transfer value earnings shall be counted as pensionable earnings in respect of each day that the participant earned them and in the same proportion as the payments taken into account in respect of a transfer value earnings election bear to the amount required to be paid under subsection 30(1). Date of crediting (2) The transfer value earnings shall come to the participant’s credit on the date of the election. SOR/2016-64, s. 66
Reserve Force Pension Plan Regulations — 33
Election not made 33 (1) A transfer value earnings election is deemed not to have been made (a) in the case of an election to count earnings as pensionable earnings from a period after December 31, 1989, if the Minister of National Revenue refuses to issue a certification under paragraph 147.1(10)(a) of the Income Tax Act ; (b) at the request of the person who made the election if they received erroneous or misleading information in writing, with respect to the amount to be paid or the consequences of the election on their benefits, from a person whose normal duties include giving information about those matters, and, in making the election, they acted on that information; or (c) if no payment is received by the Minister within the required time. Refund (2) Any payments received from a plan, fund, or institution of a type referred to in paragraph 61(1)(a) shall be transferred to a plan, fund, or institution, of any type referred to in that paragraph, at the direction of the person who made the election. New election (3) Despite the expiry of the period for making the election, the person may make an election no later than 90 days after the date of the notice informing the person of the refusal by the Minister of National Revenue. In the case of another refusal, the person shall not make an election. SOR/2016-64, s. 67
Reserve Force Pension Plan Regulations — 34
Counting pensionable service 34 (1) There shall be counted as pensionable service (a) any period during which a member is a participant; (b) despite subsection (2), any period during which the participant has been deemed to have earnings in respect of which the participant has opted not to pay contributions under section 8; and (c) any period that relates to earnings in respect of which an election was made under subsection 11(1). Not counted as pensionable service (2) There shall not be counted as pensionable service any period that relates to earnings that are not counted as pensionable earnings.
Reserve Force Pension Plan Regulations — 35
Date of crediting 35 The pensionable service shall come to the participant’s credit on the date of the election.
Reserve Force Pension Plan Regulations — 36
Interpretation 36 (1) For the purposes of this Part, (a) an individual is considered to be a child if the individual is a child or stepchild of — or an individual adopted either legally or in fact by — a participant or pensioner who, at the time of the participant’s or pensioner’s death, was dependent on that person for support; and (b) an individual is considered to be a survivor if the individual is (i) a person who was married to a participant or pensioner at the time of the death of the participant or pensioner, or (ii) a person who establishes that he or she was cohabiting in a relationship of a conjugal nature with a participant or pensioner for at least one year immediately before the death of the participant or pensioner. Deemed date of marriage (2) When a participant or pensioner dies and, at the time of death, was married to a person with whom the participant or pensioner had been cohabiting in a relationship of a conjugal nature for a period immediately before the marriage, that person is deemed to have been married to the participant or pensioner on the day established as being the day on which the cohabitation began.
Reserve Force Pension Plan Regulations — 37
Wage measure 37 (1) The wage measure is (a) for a year prior to 2007, the corresponding rate of pay shown in the schedule; and (b) for a year after 2006, the greater of (i) the standard basic rate of pay for a period of duty or training of six hours or more — before any retroactive adjustment — that was prescribed or established under the National Defence Act to be paid, on October 1 of the preceding year, to a member at the rank of Corporal (A), and (ii) the wage measure of the previous year. Updated pensionable earnings (2) The updated pensionable earnings, for a calendar year, are the lesser of (a) an amount determined by the formula A × B where A is the participant’s pensionable earnings for that year, and B is the result of the following formula, rounded to the nearest fourth decimal point: C/D where C is the average of the wage measures for five years consisting of the year the member most recently ceased to be a participant and the most recent years during which the member was a participant and, if necessary, the years preceding all of those years, and D is the wage measure for that calendar year, and (b) the product calculated under paragraph 6 (2)(a) for the year the member most recently ceased to be a participant.
Reserve Force Pension Plan Regulations — 38
Return of contributions 38 (1) A member who ceases to be a participant and has to their credit less than two years of pensionable service is entitled to a return of any amounts paid by the member into the Fund and remaining to the member’s credit, together with interest, if any, these amounts and the interest constituting a return of contributions. Entitlement extinguished (2) This entitlement shall be extinguished if, before the return of contributions is paid, the member is required to contribute to the Canadian Forces Pension Fund.
Reserve Force Pension Plan Regulations — 39
Interest calculation 39 Interest shall be calculated, for every quarter following the first quarter during which the member makes contributions, up to and including the quarter preceding the quarter in which the return of contributions is made, on the total of (a) amounts paid by the member into the Fund and remaining to the member’s credit as of the end of the quarter preceding the quarter in which the calculation is being made, and (b) the interest calculated for all quarters preceding the quarter in which the calculation is being made.
Reserve Force Pension Plan Regulations — 40
Setting of rate of interest 40 (1) The rate of interest is equal to the effective quarterly rate determined from the annual rate of return of the Canadian Forces Pension Fund published in the previous fiscal year’s annual report for the Public Sector Pension Investment Board as laid before each House of Parliament under subsection 48(3) of the Public Sector Pension Investment Board Act . Negative rate of return (2) If the rate of return is negative, the rate of interest shall be zero per cent.
Reserve Force Pension Plan Regulations — 41
Amount of annuity 41 The amount of an annuity to which a member may become entitled is an amount equal to 1.5 per cent of the greater of the member’s total pensionable earnings and total updated pensionable earnings.
Reserve Force Pension Plan Regulations — 42
Days of Canadian Forces service 42 (1) For the purposes of paragraph 43(1)(a), days of Canadian Forces service are (a) in the regular force, days of service for which pay — excluding allowances provided under the Act — was authorized to be paid and days of leave for maternity or parental purposes granted under the Queen’s Regulations and Orders for the Canadian Forces ; and (b) in the reserve force, (i) days of service for which pay — excluding allowances provided under the Act — was authorized to be paid, except that any day of service for which pay was authorized to be paid for a period of duty or training of less than six hours shall be considered to be ½ of a day, (ii) in the proportion determined under subsection (3), days in a period of exemption or leave as referred to in paragraph 2(b), and (iii) in the proportion of ¼ of a day for each day, days in a period before April 1, 1999, where the records of the Canadian Forces or the Department of National Defence permit the verification of the duration of the period but not the number of days of service for which pay — excluding allowances provided under the Act — was authorized to be paid. Augmentation (2) Each day of service for which pay — excluding allowances provided under the Act — was authorized to be paid during which the member was on Class “A” Reserve Service within the meaning of article 9.06 of the Queen’s Regulations and Orders for the Canadian Forces shall count as 1 2/5 days of Canadian Forces service. Maternity or parental leave (3) The proportion in which days in a period of exemption or leave referred to in paragraph 2(b) shall count as days of Canadian Forces service shall be determined by the formula A/B where A is the number of the member’s days of Canadian Forces service in the 364 days prior to the period; and B is the number of days in the 364 days that the member was a member of the Canadian Forces. Rounding up (4) Any total number of days of Canadian Forces service that includes a fraction shall be rounded to the next higher multiple of a day. SOR/2016-64, s. 68
Reserve Force Pension Plan Regulations — 43
Immediate annuity 43 (1) A member who ceases to be a participant and has to their credit not less than two years of pensionable service is entitled to an immediate annuity, if (a) they have completed not less than 9,131 days of Canadian Forces service; (b) they have reached 60 years of age; (c) they have reached 55 years of age and have to their credit not less than 30 years of pensionable service; (d) they are disabled by reason of suffering from a physical or mental impairment that (i) prevents the member from engaging in any employment for which the member is reasonably suited by virtue of education, training or experience, and (ii) can reasonably be expected to last for the remainder of the member’s lifetime; or (e) they cease, otherwise than voluntarily, to be a member because of a reduction in the maximum number of officers or non-commissioned members authorized by the Governor in Council under subsection 15(4) of the National Defence Act , and (i) they have reached 55 years of age and have to their credit not less than 10 years of pensionable service, or (ii) they have to their credit not less than 20 years of pensionable service. Commencement of immediate annuity (2) The commencement date of the annuity is the day following the last day on which the member is a participant.
Reserve Force Pension Plan Regulations — 44
Deferred annuity 44 (1) A member who ceases to be a participant and has to their credit not less than two years of pensionable service and is not entitled to an immediate annuity is entitled to a deferred annuity. Commencement of deferred annuity (2) The commencement date of the annuity is the day on which the pensioner reaches 60 years of age.
Reserve Force Pension Plan Regulations — 45
Annual allowance 45 (1) A pensioner who is entitled to a deferred annuity may opt for an annual allowance in place of the annuity. Commencement of annual allowance (2) The commencement date of the annual allowance is the date of the option, if the pensioner is 50 or more years of age at that time, or the day on which the pensioner reaches 50 years of age, if the pensioner is less than 50 years of age on the date of the option.
Reserve Force Pension Plan Regulations — 46
Amount of annual allowance 46 (1) The amount of the annual allowance is the amount determined by the formula A – (A × 5% × B) where A is the amount of the deferred annuity; and B is 60 minus the pensioner’s age in years, rounded to the nearest 1/10 of a year, at the time the allowance commences. Amount of annual allowance, at least 25 years of pensionable service (2) If a pensioner is 50 years or more of age on the day on which they cease to be a participant and has to their credit not less than 25 years of pensionable service, the amount of the annual allowance is the greater of (a) the amount determined by the formula set out in subsection (1), and (b) an amount determined by the same formula but where B is the greater of (i) 55 minus the pensioner’s age in years, rounded to the nearest 1/10 of a year, at the time the pensioner makes the option, and (ii) 30 minus the number of years, rounded to the nearest 1/10 of a year, of pensionable service to the pensioner’s credit.
Reserve Force Pension Plan Regulations — 47
Bridge benefit 47 (1) A pensioner is also entitled to a bridge benefit. Commencement of bridge benefit (2) The commencement date of the bridge benefit is the same date as that of the annuity or annual allowance.
Reserve Force Pension Plan Regulations — 48
Interpretation 48 (1) For the purpose of subsection (2), (a) the bridge benefit earnings for a calendar year are the lesser of (i) the participant’s pensionable earnings for that year, and (ii) the Year’s Maximum Pensionable Earnings for that year, within the meaning of subsection 2(1) of the Canada Pension Plan ; and (b) the updated bridge benefit earnings for a calendar year are the lesser of (i) the participant’s updated pensionable earnings for that year, and (ii) the average of the Year’s Maximum Pensionable Earnings for five years consisting of the year the member most recently ceased to be a participant and the preceding four years. Amount of bridge benefit (2) The annual amount of the bridge benefit is equal to 0.5 per cent of the greater of the pensioner’s total bridge benefit earnings and total updated bridge benefit earnings. Reduction (3) If a pensioner opts for an annual allowance, the amount of the bridge benefit shall be the amount determined by the formula A × B/C where A is the amount calculated under subsection (2); B is the amount of the annual allowance; and C is the amount of the deferred annuity to which the pensioner was entitled.
Reserve Force Pension Plan Regulations — 49
Cessation of benefits on again becoming a participant 49 A pensioner ceases to be entitled to an annuity or annual allowance on the day before the day on which they again become a participant.
Reserve Force Pension Plan Regulations — 50
Conversion to immediate annuity on disability 50 (1) If a pensioner, not having reached 60 years of age but having become entitled under these Regulations to a deferred annuity or annual allowance, becomes entitled to a disability pension under the Canada Pension Plan or a provincial pension plan, the pensioner ceases to be entitled to the deferred annuity or annual allowance and becomes entitled to an immediate annuity, but shall not be entitled to a bridge benefit. Commencement of annuity (2) The commencement date of the annuity is the day on which the pensioner becomes entitled to the disability pension. Benefit when entitlement to disability pension ceases (3) If a pensioner, not having reached 60 years of age, has ceased to be entitled to the disability pension, the pensioner ceases to be entitled to the immediate annuity and becomes entitled to the deferred annuity or annual allowance and the bridge benefit to which the pensioner was previously entitled.
Reserve Force Pension Plan Regulations — 51
Deduction calculation 51 (1) In the event that a pensioner ceases to be entitled to an annual allowance under section 49 or subsection 50(1), an amount, subject to subsections (2) and (3), determined by the following formula shall be deducted from any annuity or annual allowance payments that the pensioner receives on again ceasing to be a participant or on becoming entitled to an annuity under subsection 50(1): A/12 × B where A is five per cent of the sum of the annual allowance and the bridge benefit that the pensioner was receiving before again becoming a participant or before becoming entitled to a disability pension under the Canada Pension Plan or a provincial pension plan; and B is the lesser of (a) the number of years, rounded to the nearest 1/10 of a year, during which the pensioner received the annual allowance; and (b) the value determined for B of either subsection 46(1) or paragraph 46(2)(b), which value was used in determining the amount of the annual allowance. Minimum amount (2) The deduction from the amount of those payments shall not result in the pensioner receiving less than the payments that the pensioner was receiving — before the pensioner again became a participant or the pensioner became entitled to the disability pension — minus the amount of the bridge benefit, if the pensioner is no longer entitled to it. Limit (3) The total of the amounts to be deducted shall not exceed the total amount that was received as an annual allowance and a bridge benefit by the pensioner before the pensioner again became a participant or the pensioner became entitled to the disability pension.
Reserve Force Pension Plan Regulations — 52
Terms of payment 52 (1) The annuity, annual allowance and bridge benefit shall be paid in equal monthly payments in arrears, (a) in respect of the annuity or annual allowance, until the end of the month during which the pensioner dies; and (b) in respect of the bridge benefit, until the earliest of the following: (i) the day preceding the day on which the pensioner becomes entitled to a disability pension under the Canada Pension Plan or a provincial pension plan, (ii) the last day of the month in which the pensioner reaches 65 years of age, and (iii) the day that the annuity or annual allowance ceases to be paid. Arrears (2) Any amount in arrears after the pensioner’s death shall be paid to the survivor who is entitled to an annual allowance under Division 2. If there is no survivor, it shall be paid to the pensioner’s estate or succession. Apportionment if two survivors (3) If there are two survivors who are entitled to an annual allowance under Division 2, each survivor’s portion shall be determined in accordance with section 64 as if the reference to “death benefit” in that section were a reference to “amount in arrears”. SOR/2016-64, s. 69
Reserve Force Pension Plan Regulations — 53
Eligibility 53 A pensioner who is entitled to a deferred annuity and has not reached 50 years of age may opt for the payment of a transfer value, and the making of the option extinguishes the entitlement to the deferred annuity.
Reserve Force Pension Plan Regulations — 54
Time limit for opting 54 A pensioner shall make an option for the payment of a transfer value no later than one year after the day on which they cease to be a participant.
Reserve Force Pension Plan Regulations — 55
Option not made 55 The option is deemed not to have been made if, before the transfer value has been paid, the former participant again is entitled to receive earnings as a member or is required to contribute to the Canadian Forces Pension Fund.
Reserve Force Pension Plan Regulations — 56
Calculation of transfer value 56 The transfer value is an amount, together with interest calculated in accordance with section 62, equal to the greater of (a) the actuarial present value, on the date of the option, of the accrued pension benefits that would be payable to or in respect of the pensioner, and (b) a return of contributions, calculated as of the date of the option as if the pensioner had been entitled to a return of contributions on that date.
Reserve Force Pension Plan Regulations — 57
Pensionable earnings to pensioner’s credit 57 The calculation of the accrued pension benefits shall be based on the pensionable earnings to the pensioner’s credit on the day after the day on which they cease to be a participant and for which they have paid or ought to have paid before the date of the option.
Reserve Force Pension Plan Regulations — 58
Calculation rules 58 The calculation of the actuarial present value of the accrued pension benefits is subject to the following rules: (a) the indexing benefits referred to in Division 3 are to be increased to take into account the period beginning on the later of January 1 of the year in which the option was made and the day on which the pensioner ceased to be a participant and ending on the date of the option; and (b) the possibility that the pensioner could receive an annual allowance is to be excluded.