Supplementary Retirement Benefits Regulations (C.R.C., c. 1511)

Short Title

1 These Regulations may be cited as the Supplementary Retirement Benefits Regulations.

Interpretation

2 In these Regulations, Act means the Supplementary Retirement Benefits Act.

Calculations

• 3 (1) For the purposes of the definition Pension Index in subsection 2(1) of the Act, the average of the Consumer Price Index for the year 1970 and each following year shall be calculated by dividing the aggregate of the Consumer Price Index for each month in the 12-month period ending on September 30th in the immediately preceding year by 12 and adjusting the quotient obtained to one digit after the decimal point in accordance with subsection (2).

• (2) Where the quotient obtained pursuant to subsection (1) contains a fraction that is less than one, such fraction shall be expressed as a decimal fraction of two digits after the decimal point and

  • (a) the second digit after the decimal point shall be dropped if that digit is less than five; or

  • (b) the first digit after the decimal point shall be increased by one and the second digit shall be dropped if the second digit is five or greater than five.

4 Where a Benefit Index for the year 1971 or any following year obtained in accordance with paragraph 4(2)(b) of the Act contains a fraction that is less than one, such fraction shall be expressed as a decimal fraction of three digits after the decimal point and

• (a) the third digit after the decimal point shall be dropped if that digit is less than five; or

• (b) the second digit after the decimal point shall be increased by one and the third digit shall be dropped, if the third digit is five or greater than five.

5 Where a ratio is calculated for the purposes of paragraph 4(2)(b) of the Act and the ratio contains a fraction that is less than one, such fraction shall be expressed as a decimal fraction of four digits after the decimal point and

• (a) the fourth digit after the decimal point shall be dropped if that digit is less than five; or

• (b) the third digit after the decimal point shall be increased by one and the fourth digit shall be dropped, if the fourth digit is five or greater than five.

Recovery of Amounts Paid in Error

• 6 (1) Where an amount has been paid in error under the Act to any person on account of any supplementary retirement benefits and that person has been notified in writing of the amount paid in error, that amount shall be repaid by way of deductions from the supplementary retirement benefit or, to the extent that the benefit is less than the amount of the monthly instalment required under this section, from the pension to which that person is entitled.

• (2) Subject to subsections (3) and (4), an amount paid in error under the Act shall be recovered by monthly instalments calculated, as of the day on which the monthly instalments are to commence pursuant to subsection (5), in accordance with Canadian Life Table No. 2 (1941), Males and Females, and deducted for a period equal to the lesser of

  • (a) the life of the person to whom the amount has been paid in error; and

  • (b) the period required to pay the amount paid in error by monthly instalments equal to two per cent of the gross monthly amount of the pension payable to the person to whom the amount has been paid in error.

• (3) An amount paid in error under the Act may, at any time, with the approval of the person to whom the amount was paid, be recovered by

  • (a) monthly instalments calculated in the same manner as the monthly instalments recoverable under subsection (2), but larger than those monthly instalments; or

  • (b) a lump sum payment and the balance by monthly instalments calculated in the same manner as the monthly instalments recoverable under subsection (2) and deducted during such period not longer than the period specified in paragraph (2)(b).

• (4) Any person who has been notified in writing that an amount has been paid in error under the Act to or in respect of that person may, at any time, pay the amount then owing in one lump sum.

• (5) Where, pursuant to this section, deductions are to be made from the gross monthly amount of any supplementary retirement benefits or pension, the first deduction therefrom shall be made in the month following the month in which a period of 30 days following the notice to the person of the amount paid in error as described in subsection (1) expires, and succeeding deductions shall be made monthly thereafter in equal amounts during the life of the person to whom the amount was paid in error or until the amount paid in error has been recovered, whichever is the earlier, except in the case of the last instalment, which may be less in amount than the preceding instalments.