Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order (SOR/2011-122)

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Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order

SOR/2011-122

FINANCIAL ADMINISTRATION ACT

ROYAL CANADIAN MOUNTED POLICE PENSION CONTINUATION ACT

Registration 2011-06-10

Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order

T.B. 836109 2011-06-09

Whereas it appears from a report made under section 56 of the Royal Canadian Mounted Police Pension Continuation ActFootnote a that the Royal Canadian Mounted Police (Dependants) Pension Fund is substantially in excess of the amount required to make adequate provision for the prospective payments out of it;

Therefore, the Treasury Board, on the recommendation of the Minister of Public Safety and Emergency Preparedness, pursuant to subsection 57(1) of the Royal Canadian Mounted Police Pension Continuation ActFootnote a and paragraph 7(2)(e) of the Financial Administration ActFootnote b, hereby makes the annexed Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order.

 The following pension benefits, as provided in Part IV of the Royal Canadian Mounted Police Pension Continuation Act R.S.C. 1970, c. R-10 shall be increased in the following manner:

  • (a) pensions for current and prospective widows and children shall be increased by 2% in each of the 2011, 2012 and 2013 plan years, as of April 1 of each plan year;

  • (b) lump sum benefits payable on the death of a member shall be increased by 2% in each of the 2011, 2012 and 2013 plan years, as of April 1 of each plan year; and

  • (c) residual amounts payable on the death of a widow of a member shall be calculated with a deemed increase in the member’s contributions, without crediting the contributions with interest, of

    • (i) 1,173% if the widow’s death occurs in the 2012 plan year,

    • (ii) 1,198% if the widow’s death occurs in the 2013 plan year, and

    • (iii) 1,224% if the widow’s death occurs in the 2014 plan year.

  • SOR/2012-119, s. 1(F).

 This Order comes into effect on April 1, 2011.

 
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