Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order (SOR/2024-119)
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Regulations are current to 2024-06-11
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
SOR/2024-119
ROYAL CANADIAN MOUNTED POLICE PENSION CONTINUATION ACT
Registration 2024-05-31
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
P.C. 2024-630 2024-05-31
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 to be made out of it;
Return to footnote aR.S.C. 1970, c. R-10
Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Public Safety and Emergency Preparedness, makes the annexed Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order under subsection 57(1) of the Royal Canadian Mounted Police Pension Continuation ActFootnote a.
1 The following pension benefits, as provided in Part IV of the Royal Canadian Mounted Police Pension Continuation Act, are to be increased in the following manner:
(a) pensions for widows are to be increased by 5% on April 1, 2023 and by 1.2% on April 1, 2024 and April 1, 2025;
(b) lump sum benefits payable on the death of a former member who contributed to the plan and who is not survived by a widow are to be increased by 5% on April 1, 2023 and by 1.2% on April 1, 2024 and April 1, 2025; and
(c) residual amounts payable on the death of a former member’s widow who dies in the 2024, 2025 or 2026 plan year are to be calculated by increasing the former member’s deemed contributions as of April 1, 2022 by 5% on April 1, 2023 and by 1.2% on April 1, 2024 and April 1, 2025.
2 This Order comes into force on the day on which it is registered.
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