Royal Canadian Mounted Police Pension Continuation Regulations (C.R.C., c. 1392)

Indexation

18 The amount of the reduction determined in accordance with section 17 is increased on January 1 of each year after the year in which the reduction is first in effect, by the amount that would be payable as a supplementary benefit under the Supplementary Retirement Benefits Act if the amount of the reduction determined under section 17 were a pension that became payable under Part II of the Act on January 1 of the year in which the election was made.

Demographic Assumptions

• 19 (1) For the purposes of section 17, the following are the only demographic assumptions on which the actuarial present values are to be based:

  • (a) the rate of mortality for any officer is that set out in the actuarial valuation report laid before Parliament in accordance with section 30 of the Royal Canadian Mounted Police Superannuation Act, taking into account the mortality projection factors set out in the report;

  • (b) the rates of mortality of surviving spouses are those set out for spouses in the actuarial valuation report laid before Parliament in accordance with section 45 of the Public Service Superannuation Act, taking into account the mortality projection factors set out in the report; and

  • (c) the rates of divorce shall be those established by the Superintendent of Financial Institutions in accordance with the most recent statistics on divorce published by Statistics Canada.

• (2) For the purposes of subsection (1), the actuarial valuation reports referred to in that subsection are the most recent actuarial valuation reports, or, where the most recent actuarial valuation reports were tabled less than two months before the day on which the officer made an election, the previously tabled reports.

20 For the purposes of the determination referred to in section 17, the rates of interest to be used are those determined in respect of fully indexed pensions 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.

Revision of an Election

• 21 (1) An officer who has made an election may revise the level of reduction where

  • (a) the officer has received, from an authorized advisor who normally gives information about these matters, materially erroneous or misleading information regarding the amount of the reduction of the officer’s pension or the amount of the pension to which the spouse would be entitled and, in making the election, acted on that information; or

  • (b) the amount of the pension that is payable to the officer is adjusted in accordance with the Pension Benefits Division Act after the day on which the election was made.

• (2) The revision of the level of reduction shall be in writing.

• (3) The revision is valid only if it is sent to the Minister, or to a person designated by the Minister,

  • (a) within three months after the day on which a written notice containing the corrected information is sent to the officer; or

  • (b) within three months after the day on which the pension is adjusted in accordance with the Pension Benefits Division Act.

• (4) A revision of the level of reduction is effective on the day on which it is sent.

• (5) The day of the sending of the revision is the day on which it is delivered or, if it is sent by mail, the day on which it is mailed and the postmark is evidence of that day.

Effective Dates of Reduction

• 22 (1) Subject to subsection (2), the amount of the reduction of an officer’s pension, calculated in accordance with section 17, shall be subtracted from the monthly instalment of the pension payable to the officer, effective on the first day of the second month after the month in which the election is made.

• (2) Where an officer has revised the level of reduction pursuant to subsection 21(1), the revised amount of the reduction shall be subtracted from the monthly instalments of the pension payable to the officer, effective on the first day of the month after the month in which the revision was made.

Cessation of Effect of Election

23 An election ceases to have effect on the earliest of

• (a) the day on which the spouse dies,

• (b) the day on which the annulment of the marriage of the officer and the spouse takes effect, and

• (c) the day on which the divorce between the officer and the spouse takes effect.

Revocation

24 For the purposes of subsection 20.1(5) of the Act, an election made by an officer is deemed to be revoked on the day on which the officer is required to contribute to the Royal Canadian Mounted Police Superannuation Account pursuant to subsection 5(1) of the Royal Canadian Mounted Police Superannuation Act.

Termination of Reduction

25 Where an election ceases to have effect pursuant to section 23 or is deemed to be revoked pursuant to section 24, the reduction ceases on the first day of the month in which the election is revoked or ceases to have effect.

Surviving Spouse Allowance

26 The pension to which a spouse is entitled on the death of the officer who made an election is equal to an amount determined in accordance with subparagraph 17(b)(ii), if paragraph 17(b) were read without reference to supplementary benefits payable under the Supplementary Retirement Benefits Act.