Reserve Force Pension Plan Regulations (SOR/2007-32)

Marginal note:Return of contributions

• 38. (1) A member who ceases to be a participant and has to their credit less than two years of pensionable service is entitled to a return of any amounts paid by the member into the Fund and remaining to the member’s credit, together with interest, if any, these amounts and the interest constituting a return of contributions.

• Marginal note:Entitlement extinguished

  (2) This entitlement shall be extinguished if, before the return of contributions is paid, the member is required to contribute to the Canadian Forces Pension Fund.

Marginal note:Interest calculation

39. Interest shall be calculated, for every quarter following the first quarter during which the member makes contributions, up to and including the quarter preceding the quarter in which the return of contributions is made, on the total of

• (a) amounts paid by the member into the Fund and remaining to the member’s credit as of the end of the quarter preceding the quarter in which the calculation is being made, and

• (b) the interest calculated for all quarters preceding the quarter in which the calculation is being made.

Marginal note:Setting of rate of interest

• 40. (1) The rate of interest is equal to the effective quarterly rate determined from the annual rate of return of the Canadian Forces 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.

• Marginal note:Negative rate of return

  (2) If the rate of return is negative, the rate of interest shall be zero per cent.

Marginal note:Amount of annuity

41. The amount of an annuity to which a member may become entitled is an amount equal to 1.5 per cent of the greater of the member’s total pensionable earnings and total updated pensionable earnings.

Marginal note:Days of Canadian Forces service

• 42. (1) For the purposes of paragraph 43(1)(a), days of Canadian Forces service are

  • (a) in the regular force, days of service for which pay — excluding allowances provided under the Act — was authorized to be paid and days of leave for maternity or parental purposes granted under the Queen’s Regulations and Orders for the Canadian Forces; and

  • (b) in the reserve force,

    • (i) days of service for which pay — excluding allowances provided under the Act — was authorized to be paid, except that any day of service for which pay was authorized to be paid for a period of duty or training of less than six hours shall be considered to be ½ of a day,

    • (ii) in the proportion determined under subsection (3), days in a period of exemption or leave as referred to in paragraph 2(b), and

    • (iii) in the proportion of ¼ of a day for each day, days in a period before April 1, 1999, where the records of the Canadian Forces or the Department of National Defence permit the verification of the duration of the period but not the number of days of service for which pay — excluding allowances provided under the Act — was authorized to be paid.

• Marginal note:Augmentation

  (2) Each day of service for which pay — excluding allowances provided under the Act — was authorized to be paid during which the member was serving on Class “A” Reserve Service within the meaning of article 9.06 of the Queen’s Regulations and Orders for the Canadian Forces and each day of any similar service shall count as 1 2/5 days of Canadian Forces service.

• Marginal note:Maternity or parental leave

  (3) The proportion in which days in a period of exemption or leave referred to in paragraph 2(b) shall count as days of Canadian Forces service shall be determined by the formula

  A/B

  where

  A 

  is the number of the member’s days of Canadian Forces service in the 364 days prior to the period; and

  B 

  is the number of days in the 364 days that the member was a member of the Canadian Forces.

• Marginal note:Rounding up

  (4) Any total number of days of Canadian Forces service that includes a fraction shall be rounded to the next higher multiple of a day.