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• (2) For the purposes of paragraph 13(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 36.1; and

• (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

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  • (c) the aggregate of all amounts referred to in paragraphs (a) and (b) of the definition return of contributions in section 10 of the Act that have been paid by the contributor into, or transferred to the credit of the contributor, to the Canadian Forces 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.

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• 36 (1) For the purposes of paragraph 55(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 the rate that 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.

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• (4) In this section, quarterly excess means

  • (a) the total of the amounts credited to the Superannuation Accounts maintained under the Public Service Superannuation Act, the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act during any quarter of a fiscal year

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

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  • (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).

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55 Commencing with the quarter of the fiscal year ending March 31, 1974, interest shall be credited to the Regular Force Death Benefit Account in respect of each quarter in each fiscal year on the last day of June, September, December and March, calculated at the rate referred to in subsection 36(2) of these Regulations on the balance to the credit of the Account on the last day of the preceding quarter.

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• (2) The rate of interest is equal to the rate of return that existed in respect of the second quarter before the date of the option and set out in the table entitled “Balanced” on the line “Mercer Median” in the column entitled “3 Months” in the Summary of Investment Performance Survey of Canadian Institutional Pooled Funds, published by Mercer Investment Consulting, as amended from time to time.

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