Royal Canadian Mounted Police Superannuation Regulations

61 (1) Subject to subsection (2), the commuted value to which a contributor is entitled is a lump sum amount equal to the actuarial present value on valuation day of the accrued pension benefits that would be payable to or in respect of the contributor under the Act.

(2) In the case of a lump sum amount referred to in subsection (1) that is less than the amount of a return of contributions that would be payable on valuation day if the contributor were eligible to receive a return of contributions, the commuted value to which the contributor is entitled is a lump sum amount equal to the amount of that return of contributions.