Veterans Well-being Regulations

Version of section 54.2 from 2011-10-03 to 2019-03-31:

  •  (1) For the purpose of the description of C in paragraph 52.1(1)(b) of the Act, the amount of interest for the year is equal to the amount determined by the following formula calculated as of the day on which the amount of the disability award is determined:

    A/D - A/B

    where

    A
    is the amount of the disability award that is to be paid in annual payments;
    D
    is the present value of $1 on the same dates as the annual payments; and
    B
    is the number of years indicated by the member or veteran.
  • (2) The interest rates used to determine the value of D are equal to the spot rates as determined from the following series of yields published by the Bank of Canada on the last week of the month preceding the day on which the amount of the disability award is determined:

    • (a) V121778: Treasury Bills - 3 month;

    • (b) V121780: Treasury Bills - 1 year;

    • (c) V121786: Government of Canada benchmark bond yields, 2 year;

    • (d) V121787: Government of Canada benchmark bond yields, 3 year;

    • (e) V121788: Government of Canada benchmark bond yields, 5 year;

    • (f) V121789: Government of Canada benchmark bond yields, 7 year;

    • (g) V121790: Government of Canada benchmark bond yields, 10 year;

    • (h) V121791: Government of Canada benchmark bond yields, long-term; and

    • (i) V121758: Government of Canada marketable bonds, average yield, over 10 years.

  • SOR/2011-219, s. 9
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