61 (1) The payment of a transfer value is effected
(a) by transferring any portion that may, in accordance with section 8517 of the Income Tax Regulations, be transferred, at the direction of the former participant, to
[...]
(iii) a financial institution authorized to sell immediate or deferred life annuities, as defined in subsection 2(1) of the Pension Benefits Standards Regulations, 1985, for the purchase from that financial institution of such an annuity for the former participant; and
(2) If, after the option for the payment of the transfer value described in section 53 has been exercised but before that payment has been effected, the former participant dies, the following rules apply:
(a) the amount that may be transferred shall be paid accordingly and any excess shall be paid
(i) to the person who would have been entitled to an annual allowance as a survivor under Division 2 had the option for the payment of a transfer value not been exercised, or
(ii) to the former participant’s estate or succession if there is no person who would have been entitled to the annual allowance as a survivor; or
(3) If there are two persons who would have been entitled to an annual allowance under Division 2 as survivors had the transfer value option not been exercised, each of them shall be entitled to a portion determined in accordance with section 64 as if the reference to “death benefit” in that section were a reference to “excess” or “transfer value”, as the case may be.
15 (1) A participant who makes an election to count past earnings as pensionable earnings shall pay the full amount to count all of those past earnings that can be counted as pensionable earnings or a lesser amount for which the participant opts at the time of making the election.
(2) The full amount shall be the total of all amounts — plus interest at seven per cent compounded annually and calculated from the middle of the calendar year until the day of the election — determined for each calendar year by the following formula applied to those past earnings that can be counted as pensionable earnings that relate to any period in that year:
A × B
where
(a) the participant’s past earnings that can be counted as pensionable earnings for that calendar year were their pensionable earnings for that calendar year, and
34 (1) There shall be counted as pensionable service
(2) There shall not be counted as pensionable service any period that relates to earnings that are not counted as pensionable earnings.
(3) A non-permitted surplus exists when the amount by which assets exceed liabilities in the Fund, as determined by the actuarial valuation report, is greater than the lesser of
(a) 20% of the amount of liabilities in respect of participants and pensioners as determined in that report, and
(b) the greater of
(ii) 10% of the amount of liabilities in respect of participants and pensioners as determined in that report.
42 (1) For the purposes of paragraph 43(1)(a), days of Canadian Forces service are
(b) in the reserve force,
(ii) in the proportion determined under subsection (3), days in a period of exemption or leave as referred to in paragraph 2(b), and
(2) Each day of service for which pay — excluding allowances provided under the Act — was authorized to be paid during which the member was on Class “A” Reserve Service within the meaning of article 9.06 of the Queen’s Regulations and Orders for the Canadian Forces shall count as 1 2/5 days of Canadian Forces service.
(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
