Income Tax Regulations — 8302
le Earnings for each such year were equal to the Year’s Maximum Pensionable Earnings for the particular year; (i.1) where the amount of the individual’s lifetime retirement benefits depends on the Year’s Additional Maximum Pensionable Earnings for calendar years other than the particular year, the Year’s Additional Maximum Pensionable Earnings for each such year were equal to the Year’s Additional Maximum Pensionable Earnings for the particular year; (j) if the amount of the individual’s lifetime retirement benefits depends solely on the actual amount of the pension (in this paragraph referred to as the “statutory pension”) payable to the individual under paragraph 46(1)(a) of the Canada Pension Plan or a similar provision of a provincial pension plan (as defined in section 3 of that Act), the amount of statutory pension (expressed on an annualized basis) were equal to (i) 25 per cent of the lesser of the Year’s Maximum Pensionable Earnings for the particular year and (A) in the case of an individual who renders services throughout the particular year on a full-time basis to employers who participate in the plan, the aggregate of all amounts each of which is the individual’s remuneration for the particular year from such an employer, and (B) in any other case, the amount that it is reasonable to consider would be determined under clause (A) if the individual had rendered services throughout the particular year on a full-time basis to employers who participate in the plan, or (ii) at the option of the plan administrator, any other amount determined in accordance with a method for estimating the statutory pension that can be expected to result in amounts substantially similar to amounts determined under subparagraph (i); (j.1) where the amount of the individual’s lifetime retirement benefits depends on the actual amount of the pension (in this paragraph referred to as the “statutory pension”) payable to the individual under paragraphs 46(1)(a) to (c) of the Canada Pension Plan or a similar provision of a provincial pension plan (as defined in section 3 of that Act), the amount of statutory pension (expressed on an annualized basis) were equal to (i) the amount determined by the formula A × B where A is (A) for 2018 and preceding years, 0.25, (B) for 2019, 0.2625, (C) for 2020, 0.275, (D) for 2021, 0.29165, (E) for 2022, 0.3125, and (F) for 2023 and subsequent years, 1/3, and B is (A) for each particular year prior to 2024, the lesser of the Year’s Maximum Pensionable Earnings for the year and, (I) in the case of an individual who renders services throughout the particular year on a full-time basis to employers who participate in the plan, the aggregate of all amounts each of which is the individual’s remuneration for the particular year from such an employer, and (II) in any other case, the amount that it is reasonable to consider would be determined under subclause (I) if the individual had rendered services throughout the particular year on a full-time basis to employers who participate in the plan, or (B) for each particular year after 2023, the lesser of the Year’s Additional Maximum Pensionable Earnings for the year and the amount determined under subclause (A)(I) or (II), as the case may be, or (ii) at the option of the plan administrator, any other amount determined in accordance with a method for estimating the statutory pension that can be expected to result in amounts substantially similar to amounts determined under subparagraph (i); (k) where the amount of the individual’s lifetime retirement benefits depends on a pension (in this paragraph referred to as the “statutory pension”) payable to the individual under Part I of the Old Age Security Act , the amount of statutory pension payable for each calendar year were equal to the aggregate of all amounts each of which is the amount of the full monthly pension payable under Part I of that Act for a month in the particular year other than an amount described in subsection