Royal Canadian Mounted Police Superannuation Regulations (C.R.C., c. 1393)

Regulations are current to 2017-10-13 and last amended on 2016-01-01. Previous Versions

 [Repealed, SOR/2013-125, s. 34]

 [Repealed, SOR/2013-125, s. 34]

Annual Report

 Beginning with the fiscal year ending March 31, 2002, the annual report referred to in section 31 of the Act shall include the financial statements of the pension plan provided by the Act, prepared in accordance with the federal government’s stated accounting policies for the pension plan, which are based on generally accepted accounting principles.

  • SOR/2003-114, s. 1.

Superannuation Account

  •  (1) For the purposes of paragraph 29(1)(b) of the Act, interest shall be calculated in respect of each quarter in each fiscal year as of the last day of June, September, December and March on the balance to the credit of the Superannuation Account on the last day of the preceding quarter.

  • (2) The rate to be used for the purpose of calculating interest under subsection (1) in respect of any quarter is that rate which would yield an amount of interest equal to the amount of interest that the aggregate of the balances to the credit of the Superannuation Accounts maintained under the Public Service Superannuation Act, the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act would have yielded during that quarter if the quarterly excess were invested at,

    • (a) where the rate is to be used in respect of any quarterly excess after December 31, 1965, the average of the rates of interest that may be or have been determined by the Minister of Finance for the months in that quarter pursuant to subsection 111(2) of the Canada Pension Plan; and

    • (b) where the rate is to be used in respect of any quarterly excess before the quarter ending on March 31, 1966, the average of the rates of interest determined by the Minister of Finance for the months in that quarter as if subsection 111(2) of the Canada Pension Plan had been in force.

  • (3) The President of the Treasury Board shall cause notice of the rate to be used for the purposes of calculating interest under subsection (1) to be published each fiscal year in the Canada Gazette.

  • (4) In this section, quarterly excess means

    minus

    • (b) the payments charged to those Accounts during that quarter

    plus

    • (c) the total of any amounts credited to those Accounts less the payments charged to those Accounts during any quarter of a fiscal year that is a multiple of 20 years prior to the quarter referred to in paragraph (a).

  • SOR/93-219, s. 2;
  • SOR/95-571, s. 7;
  • SOR/2001-130, s. 2(F);
  • SOR/2013-125, s. 35(F).

Calculation of Interest on Return of Contributions for Any Period Before 2001

  •  (1) In this section, 1973 closing balance means the aggregate of all amounts referred to in paragraphs (a) and (b) of the definition return of contributions in subsection 9(1) of the Act that have been paid by the contributor into, or transferred to the credit of the contributor to, the Superannuation Account before January 1, 1974 and that have not been previously paid to the contributor as a return of contributions.

  • (2) In this section, yearly contribution means the aggregate of all amounts referred to in paragraphs (a) and (b) of the definition return of contributions in subsection 9(1) of the Act that have been paid by the contributor into, or transferred to the credit of the contributor to, the Superannuation Account or the Royal Canadian Mounted Police Pension Fund during a calendar year and that have not been previously paid to the contributor as a return of contributions.

  • (3) For the purposes of paragraph 9(6)(a) of the Act, for any period before January 1, 2001, interest shall be calculated on

    • (a) the 1973 closing balance, from January 1, 1974 to the earlier of December 31 of the year immediately preceding the year in which the contributor ceased to be a member of the Force and December 31, 2000; and

    • (b) each yearly contribution after 1973, from January 1 of the year following the year in which the contribution was made to the earlier of December 31 of the year immediately preceding the year in which the contributor ceased to be a member of the Force and December 31, 2000.

  • SOR/2001-130, s. 1.

Calculation of Interest on Return of Contributions for Any Period after 2000

  •  (1) In this section, 2000 closing balance means the aggregate of all amounts referred to in paragraphs (a) and (b) of the definition return of contributions in subsection 9(1) of the Act that have been paid by the contributor into, or transferred to the credit of the contributor to, the Superannuation Account or the Royal Canadian Mounted Police Pension Fund before January 1, 2001 and that have not been previously paid to the contributor as a return of contributions, plus interest on that aggregate amount calculated in accordance with section 30.1.

  • (2) For the purposes of paragraph 9(6)(b) of the Act, for any period after December 31, 2000, interest shall be calculated and balances determined in accordance with this section and interest shall be calculated in respect of every quarter up to and including the quarter preceding the quarter in which the return of contributions is paid.

  • (3) For the quarter ending March 31, 2001,

    • (a) if a return of contributions is paid during that quarter, interest shall be calculated and the balances determined in accordance with section 30.1; and

    • (b) in any other case, interest shall be calculated at the effective quarterly rate determined from an annual rate of four per cent on the 2000 closing balance.

  • (4) For each quarter beginning after March 31, 2001 for which interest is being calculated, interest shall be calculated at the rate determined under subsections (5) and (6) for that quarter on

    • (a) the 2000 closing balance;

    • (b) the interest calculated in accordance with paragraph (3)(b) on the 2000 closing balance;

    • (c) the aggregate of all amounts referred to in paragraphs (a) and (b) of the definition return of contributions in subsection 9(1) of the Act that have been paid by the contributor into, or transferred to the credit of the contributor to, the Royal Canadian Mounted Police Pension Fund after December 31, 2000 but before the end of the quarter preceding the quarter for which interest is being calculated and that have not been previously paid to the contributor as a return of contributions; and

    • (d) interest calculated in accordance with this subsection as of the end of the quarter preceding the quarter for which interest is being calculated.

  • (5) The rate of interest to be used for the purposes of subsection (4) is the effective quarterly rate determined from the annual rate of return of the Royal Canadian Mounted Police Pension Fund published in the previous fiscal year’s annual report for the Public Sector Pension Investment Board as laid before each House of Parliament under subsection 48(3) of the Public Sector Pension Investment Board Act.

  • (6) If the rate of return referred to in subsection (5) is negative, the rate of interest shall be zero per cent.

  • SOR/2001-130, s. 1.

Designation of Beneficiaries

  •  (1) Subject to the provisions of this section, a contributor may, for the purposes of Part I of the Act, name a beneficiary under Part I of the Act or substitute a new named beneficiary or cancel the naming of any beneficiary.

  • (2) The naming of a beneficiary or the substitution or cancellation or a named beneficiary by a contributor referred to in subsection (1) shall be evidenced in writing in a form prescribed by the Minister, dated, witnessed and forwarded to the Commissioner.

  • (3) Subject to subsection (4), the naming of a beneficiary or the substitution or cancellation of a named beneficiary by a contributor referred to in subsection (1) shall be effective on the day on which the contributor executes the form referred to in subsection (2) if the completed form is received by the Commissioner prior to the death of the contributor.

  • (4) Where the completed form referred to in subsection (3) was not forwarded to the Commissioner pursuant to subsection (2) but was received by the division at which the contributor is stationed, or was stationed prior to ceasing to be a member of the Force and the division advises the Commissioner that the form was received by the Force prior to the death of the contributor, the naming of a beneficiary or the substitution or cancellation of a named beneficiary by a contributor referred to in subsection (1) shall be effective on the date the contributor executed the form referred to in subsection (2) if the form is received by the Commissioner prior to the payment of any benefit under Part I of the Act.

  • (5) For the purposes of Part I of the Act, a beneficiary may be

    • (a) the contributor’s estate or succession;

    • (b) any person over the age of 18 years on the day of the naming;

    • (c) any charitable organization or institution;

    • (d) any benevolent organization or institution; or

    • (e) any eleemosynary religious or educational organization or institution.

  • SOR/2013-125, ss. 36(E), 49(E), 54(E).
 
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