Reserve Force Pension Plan Regulations (SOR/2007-32)

Marginal note:Amount to pay

• 30 (1) A participant who makes an election to count transfer value earnings as pensionable earnings shall pay an amount equal to the transfer value that was determined under section 56, together with interest.

• Marginal note:Interest to be paid

  (2) Interest shall be calculated in accordance with the rates determined under subsection (3), compounded quarterly for the period beginning on the day on which the payment of the transfer value was effected and ending on the last day of the month preceding the month in which the election was made.

• Marginal note:Rate of interest

  (3) The rate of interest in respect of each quarter is equal to the rate of return that existed in respect of the second quarter preceding the quarter for which interest is being calculated and set out in the table entitled “Balanced” on the line “Mercer Median” in the column entitled “3 Months” in the Summary of Investment Performance Survey of Canadian Institutional Pooled Funds, published by Mercer Investment Consulting, as amended from time to time.

• Marginal note:Zero interest

  (4) If the amount of interest calculated under subsection (2) is negative, the amount of interest for the purpose of subsection (1) shall be zero.