Members of Parliament Retiring Allowances Act

Marginal note:Amounts to be initially credited

6 There shall be charged to the Supplementary Retirement Benefits Account established pursuant to the Supplementary Retirement Benefits Act and credited to the Retiring Allowances Account

• (a) on January 1, 1992, the amount by which

  • (i) the aggregate of

    • (A) all amounts credited to the Supplementary Retirement Benefits Account before that date pursuant to Part IV of the former Act, and

    • (B) the interest credited pursuant to section 9 of the Supplementary Retirement Benefits Act on such portion of the balance in the Supplementary Retirement Benefits Account as may be attributed to the amounts referred to in clause (A)

  exceeds

  • (ii) the benefits and other amounts charged to the Supplementary Retirement Benefits Account in respect of former members, before that date, pursuant to section 8 of the Supplementary Retirement Benefits Act; and

• (b) such interest as is credited pursuant to section 9 of the Supplementary Retirement Benefits Act, at any time on or after January 1, 1992, on such portion of the balance in the Supplementary Retirement Benefits Account as may be attributed to the amount referred to in paragraph (a).