Supplementary Retirement Benefits Act (R.S.C., 1985, c. S-24)

Marginal note:Manner of payment of benefit

5 The supplementary retirement benefit payable to a recipient shall be paid at the same times, in the same manner, during or in respect of the same periods and subject to the same terms and conditions as the pension payable to that recipient.

Return of Contributions

Marginal note:Return of contributions and minimum benefit

• 6 (1) Where a person who has contributed to the Supplementary Retirement Benefits Account pursuant to any enactment listed or described in Schedule I, in this section referred to as the “contributor”,

  • (a) ceases to contribute to that Account and no pension is or will become payable to or in respect of that person, that person shall be paid an amount equal to the aggregate of all amounts contributed by that person to that Account, together with interest, if any, calculated pursuant to subsection (2); or

  • (b) dies and there is no person to whom a supplementary retirement benefit may be paid in respect of the contributor, or the persons to whom such a benefit may be paid die or cease to be entitled to a pension and no other amount may be paid to them under this Act, any amount by which the aggregate of

    • (i) all amounts contributed by the contributor to that Account, together with interest, if any, calculated pursuant to subsection (2), and

    • (ii) all amounts that may be paid to or in respect of him as a return of contributions, withdrawal allowance or death benefit pursuant to any enactment listed or described in Schedule I,

    exceeds the aggregate of all amounts paid to those persons and to the contributor under this Act and any enactment listed or described in Schedule I shall be paid, as a death benefit, to the contributor’s estate or, if less than one thousand dollars, as the Minister may direct.

• Marginal note:Interest

  (2) Where, at any time after December 31, 1974, a contributor ceases to contribute in respect of current service to the Supplementary Retirement Benefits Account, the Minister shall

  • (a) determine the aggregate of all amounts that have been contributed by the contributor to that Account

    • (i) prior to 1974, and

    • (ii) during each year, in this subsection called a “contribution year”, subsequent to 1973 in which contributions were made by or on behalf of the contributor to that Account,

    and that have not previously been paid to him as a return of contributions or otherwise; and

  • (b) calculate interest at the rate of four per cent compounded annually

    • (i) on the aggregate amount determined in respect of the period referred to in subparagraph (a)(i), from December 31, 1973 to December 31 of the year immediately preceding the year in which he ceased to contribute in respect of current service to that Account, and

    • (ii) on the aggregate amount determined in respect of each contribution year referred to in subparagraph (a)(ii), from December 31 of that year to December 31 of the year immediately preceding the year in which he ceased to contribute in respect of current service to that Account.

• (3) [Repealed, 1992, c. 46, s. 100]

Recoveries

Marginal note:Recovery of overpayments

7 Where any amount has been paid in error under this Act on account of any supplementary retirement benefit, the Minister may retain by way of deduction in prescribed manner from any subsequent payments of that supplementary retirement benefit or of the pension by reference to which that benefit is calculated an amount equal to the amount paid in error, without prejudice to any other recourse available to Her Majesty with respect to the recovery thereof.

Financial Provisions

Marginal note:Account established

• 8 (1) There is hereby established in the accounts of Canada an account to be known as the Supplementary Retirement Benefits Account.

• Marginal note:Amounts payable out of C.R.F.

  (2) All benefits and other amounts required to be paid pursuant to this Act shall be paid out of the Consolidated Revenue Fund and, except in the case of

  • (a) any benefit calculated by reference to a pension payable for any month after December, 1973 to or in respect of a person or in respect of the service of a person whose retirement year, determined as provided in subsection 4(5), is before 1970,

  • (b) the amount by which any benefit calculated by reference to a pension payable for any month after December, 1973 to or in respect of a person or in respect of the service of a person whose retirement year, determined as provided in subsection 4(5), is after 1969 exceeds the aggregate of all amounts credited to the Supplementary Retirement Benefits Account in respect of that person, including such portion of any interest credited to that Account as may reasonably be regarded as having been credited thereto in respect of that person, and

  • (c) any benefit calculated by reference to an annuity payable under the Governor General’s Act or the Judges Act,

  shall be charged to the Supplementary Retirement Benefits Account.

Marginal note:Interest to be credited to Account

9 There shall be credited to the Supplementary Retirement Benefits Account in each fiscal year an amount representing interest on the balance from time to time to the credit of that Account calculated at such rate as may be fixed by the Treasury Board.

General

Marginal note:Regulations

10 The Minister may make regulations prescribing

• (a) for the purposes of the definition Pension Index, the manner of calculating the average of the Consumer Price Index for any period;

• (b) for the purposes of paragraph 4(2)(b), the manner of calculating the Benefit Index and the manner of calculating any ratio referred to in that paragraph; and

• (c) the manner in which amounts referred to in section 7 may be deducted from any supplementary retirement benefit or pension.

Marginal note:Where basis of Consumer Price Index changed

11 Where at any time the Consumer Price Index for Canada, as published by Statistics Canada under the authority of the Statistics Act, is adjusted to reflect a new time basis or a new content basis with a resulting percentage adjustment being made in the figures for that Index, a corresponding adjustment shall be made in the Pension Index with respect to any period that is used for the purpose of calculating the amount of any benefit that may be paid under this Act.

Marginal note:Annual report

12 The Minister shall lay before Parliament each year a report on the administration of this Act during the preceding fiscal year, including a statement showing the amounts paid into and out of the Supplementary Retirement Benefits Account during that year, together with such additional information as the Governor in Council requires.