Royal Canadian Mounted Police Superannuation Regulations

9 (1) A contributor who opts to pay by instalments for a period of service referred to in paragraph 6(b) of the Act shall pay by monthly instalments.

(2) The instalments shall be payable on the first day of each month after the day on which the contributor elects to pay for the period of service until the earlier of

• (a) the end of the period that is chosen by the contributor, which must be no later than the later of 20 years and the participant’s 65th birthday, and

• (b) the contributor’s death.

(3) The instalments shall be payable in equal amounts that shall not be less than $5.00, except the last one, and be calculated using the mortality rates used in the preparation of the actuarial valuation report that was most recently laid before Parliament, in accordance with section 30 of the Act, before the day on which the contributor elects to pay for the period of service or, if that report was laid before Parliament in the month in which that day falls or in the preceding month, of the report that was laid before Parliament immediately before that report, and shall bear interest, compounded annually, at a rate equal to the projected rate of return of the Royal Canadian Mounted Police Pension Fund that was used in the preparation of the report.