Members of Parliament Retiring Allowances Act (R.S.C., 1985, c. M-5)

6. [Repealed, 2012, c. 22, s. 6]

Marginal note:Deficits for service before January 1, 1992 to be estimated

• 7. (1) The Minister shall estimate the total cost of all allowances and other benefits payable under this Part as of January 1, 1992.

• Marginal note:Deficits for pensionable service before January 1, 1992 to be amortized

  (2) There shall be credited to the Retiring Allowances Account, at the time and in the manner determined by the Minister, such amounts as in the opinion of the Minister will, at the end of the prescribed period, together with the amount estimated by the Minister to be to the credit of that Account at that time, meet the total cost estimated pursuant to subsection (1).

Marginal note:Amounts to be credited to meet total cost

8. There shall be credited to the Retiring Allowances Account, at the time and in the manner determined by the Minister, an amount that, in the Minister’s opinion, based on actuarial advice, together with the amount estimated by the Minister to be to the credit of that Account at that time, is necessary to meet the total cost of all allowances and other benefits payable under this Part and all supplementary benefits payable under Part IV in respect of those allowances or benefits.

Marginal note:Amounts to be debited

8.1 If the Minister is of the opinion, based on actuarial advice, that the amount estimated by the Minister to be to the credit of the Retiring Allowances Account exceeds the total cost of all allowances and other benefits payable under this Part and all supplementary benefits payable under Part IV in respect of those allowances or benefits, there may be debited from that Account, at the time and in the manner determined by the Minister, an amount specified by the Minister.

Marginal note:Contributions — January 1, 2001 to December 31, 2015

• 9. (1) During the period that begins on January 1, 2001 and ends on December 31, 2015, a member shall with respect to each calendar year, by reservation from his or her sessional indemnity, contribute to the Retiring Allowances Account 4% of that portion of that sessional indemnity that does not exceed his or her earnings limit for the calendar year.

• Marginal note:Non-application

  (1.01) Subsection (1) does not apply to a member who is required to make a contribution under subsection 12(2).

• Marginal note:Contributions

  (1.1) Despite subsection 2.3(1), beginning on September 21, 2000 and ending on December 31, 2000, a member who was entitled to elect under sections 2.1 and 2.6 and who did not make an election shall, by reservation from the sessional indemnity of the member, contribute to the Retiring Allowances Account four per cent of the amount payable to the member by way of that sessional indemnity.

• Marginal note:Application of Act deemed to be continuous

  (1.2) This Act recommences to apply to a member referred to in subsection (1.1) as of the day on which this subsection comes into force and is deemed to apply to the member as if it had always applied to the member.

• Marginal note:Additional contributions

  (2) During the period that begins on January 1, 2001 and ends on December 31, 2015, a member to whom subsection 12(2) applies who is in receipt of a salary or an annual allowance shall with respect to each calendar year, by reservation from that salary or allowance, contribute to the Retiring Allowances Account an amount equal to 4% of that portion of that salary or allowance that does not exceed his or her earnings limit for the calendar year, unless he or she elects in respect of that salary or allowance

  • (a) not to contribute under this subsection and has also elected before December 31, 2015 not to contribute under subsection 31(4) or (5) or paragraph 31.1(1)(c) or (2)(b); or

  • (b) to contribute at a lesser rate than that specified in this subsection.

• (3) and (4) [Repealed, 2001, c. 20, s. 16]