Pension Benefits Division Regulations (SOR/94-612)

Regulations are current to 2013-04-29 and last amended on 2012-09-01. Previous Versions

20. Where a transfer has been effected pursuant to section 8 of the Act, the pension benefits of the member shall be adjusted

  • (a) in accordance with sections 21 and 22, where the member is entitled to a pension under the member’s pension plan;

  • (b) in accordance with section 23, where the member is entitled to a return of contributions or a cash termination allowance;

  • (c) in accordance with subsection 23.1(1), if the member has directed that a payment be made to an eligible employer under a transfer agreement entered into under section 40.2 of the Public Service Superannuation Act; and

  • (d) in accordance with subsection 23.1(1.1), if the member has directed that a payment be made to an eligible employer under a transfer agreement entered into under section 24.1 of the Royal Canadian Mounted Police Superannuation Act.

  • SOR/97-420, s. 4;
  • SOR/2003-408, s. 13;
  • SOR/2012-132, s. 1.
Previous Version

  • 21. (1) The member’s pension benefits shall be adjusted beginning on the later of the day on which a pension is first payable under the pension plan and the first day of the month following valuation day.

  • (2) For the purpose of adjusting a member’s pension benefits, the member’s annuity shall be reduced by

    • (a) an amount equal to the member’s reduction, in respect of any period during which the member is not a recipient; and

    • (b) an amount equal to the member’s indexed reduction, in respect of any period during which the member is a recipient.

  • (3) A reduction or indexed reduction referred to in subsection (2) shall be reduced by an amount equal to the reduction adjustment after the later of

    • (a) the first day of the month after valuation day; and

    • (b) the first day of the month in which a CPP deduction from the member’s annuity is required to be made under the member’s pension plan.

  • SOR/97-420, s. 5.

22. Notwithstanding section 21, where a transfer has been effected pursuant to paragraph 8(1)(a) of the Act and the member is entitled to

  • (a) a pension by reason of disability, the reduction of the pension benefits shall begin on the first day of the month following the month during which the member would first be entitled to receive a pension that would not be reduced on account of age;

  • (b) a pension that is reduced on account of age before or after becoming entitled to a pension by reason of disability, the reduction of the pension benefits shall be determined as if the member were not entitled to a pension by reason of disability; or

  • (c) supplementary benefits by reason of disability, the member shall not be considered a recipient for the purposes of subsection 21(2) until the day the member would have become a recipient by reason of age or by reason of age and pensionable service.