Regulations are current to 2012-05-14 and last amended on 2012-01-01. Previous Versions
7308. (1) In this section, “carrier” has the meaning assigned by subsection 146.3(1) of the Act.
(2) For the purposes of this section, a retirement income fund is a qualifying retirement income fund at a particular time if
(a) the fund was entered into before 1993 and the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, or
(b) the carrier has not accepted any property as consideration under the fund after 1992 and at or before the particular time, other than property transferred from a retirement income fund that, immediately before the time of the transfer, was a qualifying retirement income fund.
(3) For the purposes of the definition “minimum amount” in subsection 146.3(1) of the Act, the prescribed factor in respect of an individual for a year in connection with a retirement income fund that was a qualifying retirement income fund at the beginning of the year is the factor, determined pursuant to the following table, that corresponds to the age in whole years (in the table referred to as “X”) attained by the individual at the beginning of that year or that would have been so attained by the individual if the individual had been alive at the beginning of that year.
X Factor
Under 79
1/(90 - X)
79
0.0853
80
0.0875
81
0.0899
82
0.0927
83
0.0958
84
0.0993
85
0.1033
86
0.1079
87
0.1133
88
0.1196
89
0.1271
90
0.1362
91
0.1473
92
0.1612
93
0.1792
94 or older
0.2
(4) For the purposes of the definition “minimum amount” in subsection 146.3(1) of the Act and subsection 8506(5), the prescribed factor in respect of an individual for a year in connection with a retirement income fund (other than a fund that was a qualifying retirement income fund at the beginning of the year) or the designated factor in respect of an individual for a year in connection with an account under a money purchase provision of a registered pension plan, as the case may be, is the factor, determined in accordance with the following table, that corresponds to the age in whole years (in the table referred to as “Y”) attained by the individual at the beginning of the year or that would have been so attained by the individual if the individual was alive at the beginning of the year.
Y Factor
under 71
1/(90 - Y)
71
0.0738
72
0.0748
73
0.0759
74
0.0771
75
0.0785
76
0.0799
77
0.0815
78
0.0833
79
0.0853
80
0.0875
81
0.0899
82
0.0927
83
0.0958
84
0.0993
85
0.1033
86
0.1079
87
0.1133
88
0.1196
89
0.1271
90
0.1362
91
0.1473
92
0.1612
93
0.1792
94 or older
0.2
NOTE: Application provisions are not included in the consolidated text;
see relevant amending regulations. SOR/94-127, s. 1;
