Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
SOR/2014-70
ROYAL CANADIAN MOUNTED POLICE PENSION CONTINUATION ACT
Registration 2014-03-28
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
P.C. 2014-308 2014-03-27
Whereas it appears from a report made under section 56 of the Royal Canadian Mounted Police Pension Continuation ActFootnote a that the Royal Canadian Mounted Police (Dependants) Pension Fund is substantially in excess of the amount required to make adequate provision for the prospective payments out of it;
Return to footnote aR.S.C., 1970, c. R-10
Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of Public Safety and Emergency Preparedness, pursuant to subsection 57(1) of the Royal Canadian Mounted Police Pension Continuation ActFootnote a, makes the annexed Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order.
1 The following pension benefits, as provided in Part IV of the Royal Canadian Mounted Police Pension Continuation ActFootnote 1, are to be increased in the following manner:
Return to footnote 1R.S.C., 1970, c. R-10
(a) pensions for current and prospective widows are to be increased by 1.2% in each of the 2014, 2015 and 2016 plan years, on April 1 of each plan year;
(b) lump sum benefits payable on the death of a member are to be increased by 1.2% in each of the 2014, 2015 and 2016 plan years, on April 1 of each plan year; and
(c) residual amounts payable on the death of a member’s widow are to be calculated with a deemed increase in the member’s contributions, without crediting the contributions with interest, of
(i) 1,240% if the widow’s death occurs in the 2015 plan year,
(ii) 1,256% if the widow’s death occurs in the 2016 plan year, and
(iii) 1,272% if the widow’s death occurs in the 2017 plan year.
2 This Order comes into effect on April 1, 2014.
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