Retirement Compensation Arrangements Regulations, No. 1

61 (1) A benefit shall be paid under this Part to a participant who is entitled to an annuity or annual allowance under the Royal Canadian Mounted Police Superannuation Act as of the same day that the annuity or annual allowance becomes payable.

(2) Subject to subsection 62(1), the benefit to which a participant is entitled shall be in an amount equal to

• (a) the amount of the annuity or annual allowance that would be payable to the participant under Part I of the Royal Canadian Mounted Police Superannuation Act if paragraph 10(1)(b) of that Act applied without reference to the annual rate of pay fixed by or determined in accordance with the regulations referred to in subparagraph 10(1)(b)(iii) of that Act,

less

• (b) any annuity or annual allowance payable to the participant under that Act and any benefit payable under subsection 67.1(2), in respect of the period of pensionable service to the credit of the participant.

(3) A benefit payable to a participant under subsection (1) is payable in the same manner and subject to the same conditions as is an annuity payable to the participant under the Royal Canadian Mounted Police Superannuation Act.