12.1 For the purposes of paragraph 5(2)(d) of the Act, no person shall contribute to the Superannuation Account in respect of any portion of the person’s annual rate of pay that is in excess of the amount determined by the formula
and rounded to the next highest multiple of $100, where
A
is
(a) in respect of pay received in 1995, $1,722.22, and
(b) in respect of pay received in any year after 1995, the amount of the defined benefit limit determined for that year pursuant to subsection 8500(1) of the Income Tax Regulations, and
B
is the Year’s Maximum Pensionable Earnings for that year determined pursuant to section 18 of the Canada Pension Plan.
