Public Service Superannuation Regulations (C.R.C., c. 1358)

• 69. (1) Subject to subsection (2), the amount of the reduction determined in accordance with section 68 is increased on January 1 of each year after the year in which the reduction is first in effect, by the amount that would be payable as a supplementary benefit under Part III of the Act if the amount of the reduction determined under section 68 were an immediate annuity that became payable under Part I of the Act on January 1 of the year in which the election was made.

• (2) Where the election is made in the year in which the contributor retires, the increase in the amount of the reduction pursuant to subsection (1) is determined in respect of the first year during which the increase is in effect from the first day of the month in which the contributor most recently ceased to be employed in the Public Service.

• 70. (1) Where a contributor entitled to a deferred annuity who has made an election becomes entitled to and receives an annual allowance, the amount of the reduction determined in accordance with section 68 shall be revised to take into account the new period during which the reduction is to be made.

• (2) Where a contributor entitled to a deferred annuity or annual allowance who has made an election becomes entitled to and receives an immediate annuity, the amount of the reduction determined in accordance with section 68 shall be revised to take into account the new period during which the reduction is to be made.

71. Where a contributor who receives an immediate annuity by reason of being disabled ceases to be entitled to that annuity and becomes entitled to a deferred annuity, the amount of the reduction determined in accordance with section 68 shall be revised to take into account the new period during which the reduction is to be made, in accordance with subsection 76(2).

• 72. (1) For the purposes of sections 68 to 71, the following are the only demographic assumptions on which the actuarial values are to be based:

  • (a) the rate of mortality for any contributor is the average of the rates of mortality for contributors who receive benefits in relation to a disability and contributors who receive benefits not in relation to a disability, of the same age group as the contributor, as set out in the actuarial valuation report laid before Parliament in accordance with section 45 of the Act, taking into account the mortality projection factors set out in the report, which average is weighted in accordance with the benefits paid to contributors in relation to a disability and to contributors other than in relation to a disability;

  • (b) the rates of mortality of surviving spouses are those set out for spouses in the actuarial valuation report laid before Parliament in accordance with section 45 of the Act, taking into account the mortality projection factors set out in the report; and

  • (c) the rates of divorce shall be those established by the Superintendent of Financial Institutions in accordance with statistics on divorce published by Statistics Canada.

• (2) For the purposes of subsection (1), the actuarial valuation referred to in that subsection is the most recent actuarial valuation report, or, where the most recent actuarial valuation report was tabled less than two months before the day on which the contributor made an election, the previously tabled report.