Members of Parliament Retiring Allowances Act — M-5 33
nsation Arrangements Account in respect of the period referred to in that subsection, the member shall pay into the Consolidated Revenue Fund (a) a contribution equal to five per cent if the member has not reached seventy-one years of age at the time of the making of the election, or equal to nine per cent if the member has reached that age at that time, of the aggregate of amounts paid to the member in respect of that period (i) by way of sessional indemnity, and (ii) by way of salary or annual allowance, if the member so elects to contribute in respect of that salary or annual allowance; and (b) the interest on that contribution calculated at a rate and in the manner prescribed from the day on which the final payment by way of sessional indemnity, salary or annual allowance, as the case may be, was made to the member in respect of that period to the day on which the election is made. Maximum contribution (2) Notwithstanding subparagraphs (1)(a)(ii), (a.1)(ii) and (b)(ii), in the case of a person who has not reached 71 years of age at the time of the making of the election, where the aggregate of amounts paid to the person as a member in respect of one or more previous sessions in a calendar year by way of sessional indemnity, salary or annual allowance exceeds (a) the earnings limit of the member for that calendar year, or (b) where the person was not a member during the whole of that calendar year, that portion of the earnings limit of the member for that calendar year that the part of the calendar year during which the person is a member bears in relation to the whole of the calendar year, determined in accordance with the regulations, the member shall not, in respect of that previous session, contribute under that subparagraph on the excess amount, but shall instead pay into the Consolidated Revenue Fund (c) in the case of an election made before July 13, 1995, a contribution equal to eleven per cent of the excess amount and, in the case of an election made on or after that date and before January 1, 2001, a contribution equal to nine per cent of the excess amount, and (d) the interest on that contribution calculated at a rate and in the manner prescribed from the day on which the final payment by way of that salary or annual allowance was made to the day on which the election is made. Maximum contribution (3) Notwithstanding subparagraph (1.1)(a)(ii), in the case of a person who has not reached seventy-one years of age at the time of the making of the election, where the aggregate of amounts paid to the person as a member in respect of a particular period in a calendar year by way of sessional indemnity, salary or annual allowance exceeds (a) the earnings limit of the member for that calendar year, or (b) where the person was not a member during the whole of that calendar year, that portion of the earnings limit of the member for that calendar year that the part of the calendar year during which the person is a member bears in relation to the whole of the calendar year, determined in accordance with the regulations, the member shall not, in respect of that period, contribute under that subparagraph on the excess amount, but shall instead pay into the Consolidated Revenue Fund (c) a contribution equal to nine per cent of the excess amount, and (d) the interest on that contribution calculated at a rate and in the manner prescribed from the day on which the final payment by way of that salary or annual allowance was made to the day on which the election is made. Earnings limit for part of year (4) For the purpose of subsection (1), if the person was not a member during the whole of a calendar year, the earnings limit for that calendar year is determined by multiplying the member’s earnings limit for the calendar year by the ratio that the part of the calendar year during which the person was a member is to the whole calendar year. Application (5) This section applies only in respect of elections made before January 1, 2013.