Public Service Superannuation Regulations
Version of section 5.1 from 2008-01-01 to 2024-06-11:
5.1 For the purposes of paragraph 5(6)(b) of the Act, the annual rate of salary is equal to the amount determined by the following formula and rounded to the next highest multiple of $100:
(A - (B×C)) ÷ 0.02 + C
where
- A
- is
(a) in respect of salary received by the person for 1994 or 1995, $1,722.22, and
(b) in respect of salary received by the person for any year after 1995, the amount of the defined benefit limit determined for that year in accordance with the definition defined benefit limit in subsection 8500(1) of the Income Tax Regulations;
- B
- is
(a) in respect of salary received by the person for any year after 1993 and before 2008, 0.013, and
(b) in respect of salary received by the person for any year after 2007, 0.01375, and
- C
- is the Year’s Maximum Pensionable Earnings determined for that year in accordance with section 18 of the Canada Pension Plan.
- SOR/94-767, s. 1
- SOR/2008-1, s. 1
- Date modified: