GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Reserve Force Pension Plan Regulations — 59
Actuarial valuation report 59 (1) For the purpose of subsection (2), the actuarial valuation report is the actuarial valuation report most recently laid before Parliament, under section 56 of the Act, before the date of the option or, if that report was laid before Parliament in the month in which the option was made or in the preceding month, the preceding report that was laid before Parliament, in each case with any terminological modifications that the circumstances require. Actuarial assumptions (2) In determining the actuarial present value of the accrued pension benefits, the following actuarial assumptions are to be used: (a) the mortality rates for pensioners and survivors are the mortality rates, including annual percentages of mortality reduction, in respect of contributors and survivors used in the preparation of the actuarial valuation report; (b) the interest rates are the interest rates for fully indexed pensions — adjusted by the interest rates for unindexed pensions to take into account Division 3 — determined in accordance with the section entitled “Pension Commuted Values” of the Standards of Practice — Practice-Specific Standards for Pension Plans , published by the Canadian Institute of Actuaries, as amended from time to time; (c) the probability that a pensioner will be survived by children is based on the rates regarding the average number, average age and eligibility status of children at the death of a pensioner, used in the preparation of the actuarial valuation report; (d) the probability that a pensioner will become entitled to an annuity under subsection 50(1) is based on the rates of termination owing to disability (any occupation), in respect of contributors used in the preparation of the actuarial valuation report, taking into account the probability — as set out in that report — that there would be immediate eligibility for a disability pension under the Canada Pension Plan or a provincial pension plan; and (e) the probability that a pensioner will have a survivor at death is based on the probability that a contributor will have a survivor at death and on the age difference between the contributor and the survivor that was used in the preparation of the actuarial valuation report.
Reserve Force Pension Plan Regulations — 60
Deductions from payment 60 There shall be deducted from the amount of the transfer value (a) contributions remaining unpaid in respect of earnings that the pensioner is deemed to have received under paragraph 2(b); and (b) arrears in respect of a past earnings election.
Reserve Force Pension Plan Regulations — 61
Payment effected by transfer 61 (1) The payment of a transfer value is effected (a) by transferring any portion that may, in accordance with section 8517 of the Income Tax Regulations , be transferred, at the direction of the former participant, to (i) a pension plan that is registered under the Income Tax Act , if that pension plan so permits, (ii) a retirement savings plan or fund for the former participant that is of the kind prescribed for the purposes of section 26 of the Pension Benefits Standards Act, 1985 , or (iii) a financial institution authorized to sell immediate or deferred life annuities, as defined in subsection 2(1) of the Pension Benefits Standards Regulations, 1985 , for the purchase from that financial institution of such an annuity for the former participant; and (b) by paying any excess to the former participant. Payment if former participant deceased (2) If, after the option for the payment of the transfer value described in section 53 has been exercised but before that payment has been effected, the former participant dies, the following rules apply: (a) the amount that may be transferred shall be paid accordingly and any excess shall be paid (i) to the person who would have been entitled to an annual allowance as a survivor under Division 2 had the option for the payment of a transfer value not been exercised, or (ii) to the former participant’s estate or succession if there is no person who would have been entitled to the annual allowance as a survivor; or (b) if no amount may be transferred, all of the transfer value shall be paid in accordance with subparagraphs (a)(i) and (ii) Apportionment (3) If there are two persons who would have been entitled to an annual allowance under Division 2 as survivors had the transfer value option not been exercised, each of them shall be entitled to a portion determined in accordance with section 64 as if the reference to “death benefit” in that section were a reference to “excess” or “transfer value”, as the case may be. SOR/2016-64, s. 70
Reserve Force Pension Plan Regulations — 62
Calculation of interest 62 (1) Interest shall be calculated, in accordance with the rate determined under subsections (2) and (3), and converted to an effective annual rate, for the period beginning on the date of the option and ending on the last day of the month before the month in which the transfer value is paid or, if the former participant has not given the direction referred to in paragraph 61(1)(a), ending 90 days after the date of the option. Rate of interest (2) The rate of interest is equal to the rate of return that existed in respect of the second quarter before the date of the option 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 (3) If the rate of return is negative, the rate of interest is 0.0%.
Reserve Force Pension Plan Regulations — 62.1
Recovery of debit balances 62.1 For the purposes of section 89 of the Act, any debit balance in the pay account of a former member of the reserve force shall be recovered (a) from any return of contributions or a transfer value to which the former member is entitled, in a lump sum; or (b) from any annuity or annual allowance to which the former member is entitled, (i) by monthly instalments in an amount equal to 10% of their gross monthly annuity or allowance, or (ii) by monthly instalments in an amount equal to 50% of their gross monthly annuity or allowance, if they have been convicted of an offence under the Criminal Code or the National Defence Act that led, directly or indirectly, to the debit balance. SOR/2016-64, s. 71
Reserve Force Pension Plan Regulations — 63
Death benefits 63 The survivor of a participant who has to their credit less than two years of pensionable service is entitled to a death benefit equal to the greater of a return of contributions and an amount determined by the formula A × B/C where A is the participant’s pensionable earnings in the 12 months prior to the month of death; B is the number of years of pensionable service to the participant’s credit; and C is the lesser of 12 and the number of months of pensionable service to the participant’s credit .
Reserve Force Pension Plan Regulations — 64
Apportionment if two survivors 64 (1) If two survivors are entitled to the death benefit, each survivor’s portion shall be determined by the formula A × B/C where A is the amount of the death benefit; B is the total number of years that the survivor cohabited with the participant while married to or in a relationship of a conjugal nature with the participant; and C is the total number of years that the two survivors cohabited with the participant while married to or in a relationship of a conjugal nature with the participant. Rounding Years (2) In determining the number of years, a part of a year shall be counted as a full year if the part is six or more months and shall not be counted if it is less.
Reserve Force Pension Plan Regulations — 65
Minimum benefit — no survivor 65 If a participant, who has to their credit less than two years of pensionable service, dies leaving no survivor entitled to the death benefit, a death benefit equal to a return of contributions shall be paid to the estate or succession of the participant. SOR/2016-64, s. 72
Reserve Force Pension Plan Regulations — 66
Definition of basic allowance 66 For the purpose of sections 67 and 68, basic allowance means (a) an amount equal to one per cent of the greater of the pensioner’s total pensionable earnings and total updated pensionable earnings; or (b) if the pensioner was in receipt of an annual allowance at the time of death, an amount determined by the formula A × B/C where A is the amount calculated under paragraph (a), 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 — 67
Benefits to survivor of a pensioner 67 (1) The survivor of a pensioner is entitled to an annual allowance equal to the basic allowance or, if there are two survivors, to an amount determined by the formula A × B/C where A is the amount of the basic allowance; B is the total number of years that the survivor cohabited with the pensioner while married to or in a relationship of a conjugal nature with the pensioner; and C is the total number of years that the two survivors cohabited with the pensioner while married to or in a relationship of a conjugal nature with the pensioner. Rounding Years (2) In determining the number of years, a part of a year shall be counted as a full year if the part is six or more months and shall not be counted if it is less. Death of one of two survivors (3) If one of the survivors dies, the remaining survivor’s annual allowance shall be equal to the basic allowance commencing the first day of the month following the death of the survivor.
Reserve Force Pension Plan Regulations — 68
Course of study 68 (1) For the purposes of this section and sections 69 and 72, course of study means a course of training or instruction given by a school, college, university or other institution of an educational, professional or technical nature. Benefits to child of a pensioner (2) Each child of a pensioner who, at the date of the pensioner’s death, is under 18 years of age or is 18 or more years of age but less than 25 years of age and enrolled in and pursuing a full-time course of study is entitled (a) if the pensioner died leaving a survivor entitled to an allowance under this Division, to an annual allowance equal to ¼ of the basic allowance or, if there are more than two children, to an annual allowance equal to ½ of the basic allowance divided by the number of children; or (b) if the pensioner died without leaving a survivor entitled to receive an allowance under this Division, and (i) there are fewer than four children, to an annual allowance equal to ½ of the basic allowance, or (ii) there are more than three children, to an annual allowance equal to 1 ½ times the basic allowance divided by the number of children. Recalculation (3) The proportion of the basic allowance that constitutes the annual allowance shall be revised when the number of children who are entitled changes. Continuing entitlement (4) The child of a pensioner who, at the date of the pensioner’s death, was entitled to an annual allowance shall be entitled to the annual allowance for any period during which the child is enrolled in and pursuing a full-time course of study until the child reaches 25 years of age. Presumption (5) A child, at the date of the pensioner’s death, is deemed to have been enrolled in and pursuing a full-time course of study if the child (a) is again enrolled in and pursuing a full-time course of study, or dies, no later than the last day of the fifth month after the month in which the child ceased to be enrolled in and pursuing the full-time course of study; or (b) is not again enrolled in and pursuing a full-time course of study within that period due to illness and is again enrolled in and pursuing a full-time course of study, or dies, no later than the last day of the twelfth month after the month in which the child ceased to be enrolled in and pursuing the full-time course of study. Scholastic break (6) A child is deemed not to have ceased to be enrolled in and pursuing a full-time course of study if the child fulfils the conditions set out in paragraph (5)(a) or (b).
Reserve Force Pension Plan Regulations — 69
Declaration 69 The entitlement to an annual allowance of a child who is 18 or more years of age but less than 25 years of age and enrolled in and pursuing a full-time course of study is subject to the child submitting to the Minister, in respect of each period of enrolment, (a) a declaration by a responsible officer of the relevant institution that the child is or was enrolled in a full-time course of study; and (b) a declaration by the child that the child is or was pursuing a full-time course of study.
Reserve Force Pension Plan Regulations — 70
Benefits to survivor and child of a participant 70 The survivor and child of a participant, where the participant has to their credit not less than two years of pensionable service, are entitled to the annual allowances to which they would have been entitled under section 67 or 68 had the participant, immediately before death, become a pensioner.
Reserve Force Pension Plan Regulations — 71
Commencement of annual allowance 71 (1) The commencement date of the annual allowance payable to the survivor or child is the day after the death. Recommencing studies (2) In the case of a child who has ceased to be entitled and who again becomes so entitled, the commencement date is the first day of the month in which the child enrols in and pursues a full-time course of study.
Reserve Force Pension Plan Regulations — 72
Terms of payment 72 (1) The annual allowance shall be paid in equal monthly payments in arrears, (a) in the case of a survivor, until the end of the month during which the survivor dies; and (b) in the case of a child, until the end of the month during which the earlier of the following occurs: (i) the child reaches 18 years of age or dies, or (ii) if the child is enrolled in and pursuing a full-time course of study, the child ceases to be enrolled in and pursuing a full-time course of study or reaches 25 years of age. Arrears (2) Any amount in arrears after the death of the survivor or child who has reached 18 years of age shall be paid to the estate or succession. SOR/2016-64, s. 73
Reserve Force Pension Plan Regulations — 73
Marriage or cohabitation after pensioner reaches 60 years 73 A survivor is not entitled to an annual allowance in respect of a pensioner if, at the time the pensioner married the survivor or began to cohabit with the survivor in a relationship of a conjugal nature, the pensioner had reached 60 years of age unless, after that time, the pensioner again became a participant.
Reserve Force Pension Plan Regulations — 74
Waiver by survivor 74 (1) A survivor may waive entitlement to an annual allowance if it results in (a) an increase in the allowance payable to a child under section 68 or 70 ; or (b) a payment under section 78 . Time for waiver (2) The survivor shall waive the entitlement no later than three months after the survivor is notified of their entitlement to the allowance. That waiver is to take effect as of the day after the death of the participant or pensioner.
Reserve Force Pension Plan Regulations — 75
Child after pensioner reaches 60 years 75 A person who becomes the child of a pensioner at a time when the pensioner was over 60 years of age is not entitled to an annual allowance, unless, (a) after that time the pensioner again became a participant; or (b) the child was born to the pensioner following a gestation period that commenced prior to the day when the pensioner reached 60 years of age or ceased to be a participant, whichever is the later.
Reserve Force Pension Plan Regulations — 76
Death within one year after marriage 76 If a participant or pensioner dies within one year after marriage, no annual allowance is payable to the survivor or a person who becomes a child of the participant or pensioner after the marriage unless it is established that the participant or pensioner was at the time of the marriage in such a condition of health as to justify the participant or pensioner in having an expectation of surviving for at least one year after the marriage.
Reserve Force Pension Plan Regulations — 77
Saving provision 77 Nothing in sections 75 and 76 shall be held to prejudice any right that a child of an earlier marriage of the participant or pensioner has to an allowance under section 68 or 70 .
Reserve Force Pension Plan Regulations — 78
Minimum benefit — no survivor or child 78 If, on the death of a participant or pensioner who has to their credit not less than two years of pensionable service, there is no survivor or child to whom an annual allowance may be paid, or if the survivor or child to whom an annual allowance may be paid dies or ceases to be entitled to it and no other amount may be paid to them under this Division, an amount equal to the amount determined by the following formula shall be paid as a death benefit to the estate or succession of the participant or pensioner: A – B where A is the greater of a return of contributions and an amount equal to five times the total of the annuity determined in accordance with section 41 plus the bridge benefit determined in accordance with section 48 ; and B is the aggregate of all amounts paid to a survivor or child under this Division and to the participant or pensioner under Division 1. SOR/2016-64, s. 74
Reserve Force Pension Plan Regulations — 79
Survivor not to receive benefits 79 A survivor is not entitled to receive any benefit under this Division in respect of the participant or pensioner if the survivor could not be found within one year after the Minister has been notified of the death of the participant or pensioner or the survivor is found criminally responsible for the death of the participant or pensioner.
Reserve Force Pension Plan Regulations — 80
Indexing benefit 80 The following persons are entitled to an indexing benefit: (a) a pensioner who is in receipt of an annuity or annual allowance and who (i) is receiving it under paragraph 43 (1)(d) or subsection 50 (1), (ii) has reached at least 55 years of age and whose combination of years of age and full years of pensionable service equals at least 85, or (iii) has reached 60 years of age; and (b) a survivor or child who is in receipt of an annual allowance under Division 2.
Reserve Force Pension Plan Regulations — 81
Retirement month or year 81 (1) For the purposes of this section, retirement month or retirement year means (a) in respect of a pensioner, the month or year during which the pensioner most recently became entitled to an annuity or annual allowance under Division I of Part 2; and (b) in respect of a survivor or child, the retirement month or retirement year of the pensioner, or the month or year of death of the participant, in respect of whom the annual allowance is payable. Calculation of indexing benefit (2) The indexing benefit for a month in any year shall be calculated with reference to the retirement year and shall be equal to the amount of the supplementary retirement benefit that would be payable for that month in respect of the annuity or annual allowance and the bridge benefit of the pensioner, survivor or child under subsections 4(1) and (2) of the Supplementary Retirement Benefits Act if that Act applied to that person. Calculation of indexing benefit — year following retirement (3) In respect of a month in the year following the retirement year, the indexing benefit is equal to the amount determined by the formula A × B/12 where A is the amount of the indexing benefit that would, but for this subsection, be payable to the pensioner, survivor or child for that month; and B is the number of complete months that remained in the retirement year after the retirement month. Minimum amount (4) The aggregate of the amount of the annuity or annual allowance and the bridge benefit, and of the indexing benefit that may be payable in respect of that amount, in any month of any year, shall not be less than the aggregate of the following amounts that were or may be payable for any month in the year before that year: (a) the annuity or annual allowance and that portion of the indexing benefit that related to it; and (b) if the pensioner continues to be entitled to the bridge benefit, that benefit and the portion of the indexing benefit that related to it. SOR/2008-307, s. 14
Reserve Force Pension Plan Regulations — 82
Manner of payment 82 The indexing benefit shall be paid at the same time, in the same manner and in respect of the same period as the annuity, annual allowance and bridge benefit.
Reserve Force Pension Plan Regulations — 83
Participants who become contributors 83 (1) When a former participant is required to contribute to the Canadian Forces Pension Fund and has pensionable earnings to their credit at that time, there shall be charged to the Fund and credited to the Canadian Forces Pension Fund an amount equal to the transfer value that would have been determined under section 56 , excluding interest, if the former participant had had the right to opt for the payment of a transfer value and had done so. Rights and obligations extinguished (2) The former participant’s rights and obligations, and those of any person to whom a benefit might have become payable in respect of that former participant, under these Regulations shall be extinguished on the day before the day on which the former participant is required to contribute to the Canadian Forces Pension Fund.
Reserve Force Pension Plan Regulations — 84
Fund established 84 The Reserve Force Pension Fund is established.
Reserve Force Pension Plan Regulations — 85
Amounts to be deposited 85 There shall be deposited into the Fund (a) the amounts that participants are required to contribute under the Act and the amounts that they are required to pay, under these Regulations, in respect of elections made to count past earnings or transfer value earnings as pensionable earnings; and (b) the income from the investment of any contributions and from amounts deposited into the Fund plus profits minus losses on the sale of the investments.
Reserve Force Pension Plan Regulations — 86
When amounts to be deposited 86 (1) The time within which the amounts referred to in paragraph 59.3(a) of the Act are to be deposited into the Fund is no later than 30 days after the end of the month in which the contributions to which they relate are deposited. Exceptions (2) Despite subsection (1), (a) except for the period before the laying before Parliament of the first actuarial valuation report referred to in subsection 59.6(1) of the Act, a deposit may only be made, in respect of the benefits that have accrued in relation to the pensionable earnings referred to in paragraph 10 (1)(a), during the period beginning with the laying before Parliament of an actuarial valuation report that does not show a non-permitted surplus and ending with laying of any actuarial report that shows a non-permitted surplus; and (b) the time within which the arrears resulting from paragraph (a) are to be deposited into the Fund is no later than 30 days after the laying of the most recent actuarial report that no longer shows a non-permitted surplus. Non-permitted surplus (3) A non-permitted surplus exists when the amount by which assets exceed liabilities in the Fund, as determined by the actuarial valuation report, is greater than the lesser of (a) 20% of the amount of liabilities in respect of participants and pensioners as determined in that report, and (b) the greater of (i) twice the estimated amount, for the calendar year following the date of that report, of the total of (A) the contributions that will be required of participants in respect of their earnings during that year, and (B) the part of the amounts to be deposited under section 85 that is in respect of the benefits that have accrued in relation to the pensionable earnings referred to in paragraph 10 (1)(a), and (ii) 10% of the amount of liabilities in respect of participants and pensioners as determined in that report.