Royal Canadian Mounted Police Superannuation Regulations

Version of section 63 from 2006-03-22 to 2012-08-31:

  •  (1) In a determination of the actuarial present value of the accrued pension benefits referred to in subsection 61(1), the following actuarial assumptions are to be used:

    • (a) the mortality rates for contributors and survivors, including mortality projection factors, shall be those used in the preparation of the most recent actuarial valuation report relating to the pension plan established under the Act;

    • (b) the interest rates shall be the interest rates for fully indexed pensions determined in the manner set out in the Recommendations for the Computation of Transfer Values from Registered Pension Plans, published by the Canadian Institute of Actuaries, effective September 1, 1993, adjusted by the interest rates for non-indexed pensions determined in the manner set out in the Recommendations to take into account the provisions of Part III of the Act;

    • (c) the probability that a contributor will have a survivor shall be based on the rates regarding the average age and eligibility status of survivors at the death of a contributor used in the preparation of the most recent actuarial valuation report relating to the pension plan established under the Act;

    • (d) the probability that a contributor will be survived by children shall be based on the rates regarding the assumed number, average age and eligibility status of children at the death of a contributor used in the preparation of the most recent actuarial valuation report relating to the pension plan established under the Act; and

    • (e) the probability that a contributor will become entitled to a benefit by reason of disability shall be based on the disability incidence rates used in the preparation of the most recent actuarial valuation report relating to the pension plan established under the Act, taking into account the probability set out in that report, in the case of a compulsory retirement from the Force due to disability, that there would be immediate eligibility for Canada Pension Plan or Quebec Pension Plan disability benefits.

  • (2) The actuarial valuation report referred to in paragraphs (1)(a) and (c) to (e) is the actuarial valuation report most recently laid before Parliament in accordance with section 30 of the Act before valuation day or, if that report was laid before Parliament in the month in which valuation day occurs or in the preceding month, the report that was laid before Parliament immediately previous to that report.

  • SOR/2003-232, s. 2
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