Canadian Forces Superannuation Act

Marginal note:Regular Force Death Benefit Account

• 68 (1) There shall be an account in the accounts of Canada to be known as the Regular Force Death Benefit Account to which shall be credited the following:

  • (a) the amount of all contributions paid under section 65 by participants;

  • (b) an amount equal to the amount estimated by the President of the Treasury Board to be sufficient to cover the cost of the benefits that will become chargeable against the Account but not less than the aggregate of

    • (i) one twelfth of the benefit paid in respect of each participant who, at the time of death, was a member of the regular force or of the reserve force, for which benefit contributions under this Part were payable by the participant at that time,

    • (ii) one twelfth of the benefit paid in respect of each elective participant who, on ceasing to be a member of the regular force was entitled under Part I or under the Defence Services Pension Continuation Act, chapter D-3 of the Revised Statutes of Canada, 1970, to an immediate annuity or pension, for which benefit contributions under this Part were payable by the participant at the time of death, and

    • (iii) the amount of the single premium determined under the schedule in respect of each participant in the case of whom the basic benefit in the amount of five thousand dollars referred to in paragraph (a) of the definition basic benefit in subsection 60(1), or the basic benefit in the amount of five hundred dollars referred to in paragraph (b) of that definition, applies without contribution under this Part by the participant therefor; and

  • (c) an amount representing interest on the balance from time to time to the credit of the Account, calculated in such manner and at such rates and credited at such times as the regulations provide.

  • (d) and (e) [Repealed, 1992, c. 46, s. 54]

• Marginal note:How benefits to be charged

  (2) Benefits shall be paid out of the Consolidated Revenue Fund and shall be charged against the Regular Force Death Benefit Account.