Supplementary Retirement Benefits Act — S-24 4
Calculation of benefit 4 (1) The supplementary retirement benefit payable to a recipient for a month in any year is an amount equal to the amount obtained by multiplying (a) the amount of the pension payable to the recipient for that month by (b) the ratio that the Benefit Index for that year bears to the Benefit Index for the retirement year of the person to or in respect of whom or in respect of whose service the pension is payable, and subtracting therefrom (c) the amount of the pension payable to the recipient for that month. Benefit Index (2) For the purposes of subsection (1), the Benefit Index (a) for any year set out in column I of Schedule II, is the figure set out in column II of that Schedule opposite that year; and (b) for the year 1985 and each following year, shall be calculated in prescribed manner by multiplying (i) the Benefit Index for the year immediately preceding that year by (ii) the ratio that the Pension Index for that year bears to the Pension Index for the year immediately preceding that year. Exception for first year benefits received (3) Notwithstanding subsection (1), the supplementary retirement benefit payable to a recipient whose retirement year is 1982 or a later year, and who retires, or who is the survivor or a child of a person who retires, on or after June 22, 1982, for a month in the year immediately following the retirement year is the amount obtained by multiplying (a) the amount of the supplementary retirement benefit that would, but for this subsection, be payable to the recipient for that month by (b) the ratio that the number of complete months that remained in the retirement year after the retirement month bears to twelve. Exception for subsequent years (4) For the purposes of calculating the supplementary retirement benefit payable under subsection (1) to a recipient whose retirement year is 1982 or a later year, and who retires, or who is the survivor or a child of a person who retires, on or after June 22, 1982, for a month in any year following the year immediately following the retirement year, (a) the amount of the pension payable to the recipient for that month referred to in paragraph (1)(a) shall be deemed to be the aggregate of the amount of the pension payable to the recipient for that month and the amount of the supplementary retirement benefit for a month in the year immediately following his retirement year calculated pursuant to subsection (3), whether or not that amount was paid; and (b) the Benefit Index for the retirement year shall be deemed to be the Benefit Index for the year immediately following his retirement year. Determination of retirement year or retirement month (5) For the purposes of this section, (a) the retirement year or retirement month of a person to or in respect of whom or in respect of whose service a pension is payable, other than a person referred to in paragraph (b), is the year or month, as the case may be, in which, for the purposes of the enactment pursuant to which the pension is payable, that person most recently ceased to be employed, to hold office, to be a member of the Senate or House of Commons or to be a member of the regular force or the Royal Canadian Mounted Police, as the case may be; and (b) the retirement year or retirement month of a person who is in receipt of a pension by virtue of being a survivor or a child, is the retirement year or retirement month, as the case may be, of the person in respect of whom or in respect of whose service the pension is payable. (6) [Repealed, 1992, c. 46, s. 99] No decrease in amount of supplementary retirement benefit (7) Notwithstanding subsection (1) but subject to section 5, the aggregate of the amount of the supplementary retirement benefit and pension that may be paid to a recipient for a month in any year shall not be less than the aggregate of the amount of the supplementary retirement benefit and pension that was or may be paid to that recipient for any month in the year next befor