Pension Benefits Division Regulations (SOR/94-612)

Regulations are current to 2013-05-26 and last amended on 2012-09-01. Previous Versions

23. The return of contributions or the cash termination allowance to which a member is entitled under the member’s pension plan shall be reduced by the product of

  • (a) the return of contributions the member would have been entitled to receive in respect of the period subject to division, determined in the case of a member who is entitled to a cash termination allowance as if the member were entitled to a return of contributions, had there not been a transfer of the member’s pension benefits pursuant to paragraph 8(1)(a) of the Act; and

  • (b) the division factor.

  • 23.1 (1) Any amount to be paid in respect of a member to an eligible employer pursuant to a transfer agreement entered into under section 40.2 of the Public Service Superannuation Act, or to be paid to the member as a consequence of that payment, shall be reduced by the actuarial present value of the reduction that would have been made to the member’s pension benefits under sections 20 and 21 had the member remained employed in the Public Service.

  • (1.1) Any amount to be paid in respect of a member to an eligible employer under a transfer agreement entered into under section 24.1 of the Royal Canadian Mounted Police Superannuation Act, or to be paid to the member as a consequence of that payment, shall be reduced by the actuarial present value of the reduction that would have been made to the member’s pension benefits under sections 20 and 21 had the member remained a member of the Royal Canadian Mounted Police.

  • (2) The actuarial present value shall be calculated in accordance with the methodology and assumptions set out in the agreement.

  • SOR/97-420, s. 6;
  • SOR/2003-408, s. 14;
  • SOR/2007-298, s. 3;
  • SOR/2012-132, s. 2.
Previous Version

24. Where a transfer has been effected pursuant to paragraph 8(1)(a) of the Act, any minimum benefit payable under the member’s pension plan shall be determined on the basis that the member’s annuity is reduced by the amount of the indexed reduction.

25. Despite any provision of a pension plan, if a division of the pension benefits that have accrued to a member under that pension plan in respect of any period of pensionable service has been effected, the spouse, former spouse or former common-law partner in whose favour the division is effected ceases to be entitled to any pension to which he or she would have been entitled as a surviving spouse or surviving common-law partner in respect of that period of service.

  • SOR/2003-408, s. 15.