Retirement Compensation Arrangements Regulations, No. 1

65 (1) If a participant dies, leaving no survivor or child to whom a benefit may be paid under this Part or Part I of The Royal Canadian Mounted Police Superannuation Act, or if the persons to whom such a benefit may be paid die or cease to be entitled to the benefit, a benefit of the type referred to in section 22 of that Act shall be paid to the beneficiary named by the participant under section 31 of that Act or, if no beneficiary is named or the named beneficiary does not survive the participant, to the estate of the participant, subject to the same conditions as are specified in that Act for payment of such a benefit.

(2) Subject to subsection (3), if five times the aggregate of the benefits referred to in paragraphs (a) and (b) is greater than the total of the participant’s contributions under this Part and under Part I of the Royal Canadian Mounted Police Superannuation Act, together with interest thereon calculated at the rate and in the manner set out in subsection 9(6) of that Act, the amount of a benefit payable under subsection (1) shall be five times the aggregate of

• (a) the annual amount of any benefit payable to the participant under this Division, determined in accordance with subsection 61(2), not reduced on account of the age or period of pensionable service of the participant, and

• (b) the amount of any annuity payable to the participant under the Royal Canadian Mounted Police Superannuation Act, determined in accordance with paragraph 10(1)(a) of that Act.

(3) The amount of the benefit referred to in subsection (2) shall be reduced by the following amounts paid to or in respect of the participant:

• (a) any amount paid under this Part; and

• (b) any amount paid under Part I of the Royal Canadian Mounted Police Superannuation Act, including any amount paid under section 22 of that Act.

(4) If the amount determined under subsection (2) is less than the total of the participant’s contributions under this Part and Part I of the Royal Canadian Mounted Police Superannuation Act together with interest thereon calculated at the rate and in the manner set out in subsection 9(6) of that Act, the benefit payable under subsection (1) shall be equal to the participant’s contributions under this Part together with interest thereon calculated at the same rate and in the same manner reduced by any amount paid to or in respect of the participant under this Part.