Reserve Force Pension Plan Regulations

Marginal note:Retirement month or year

• 81 (1) For the purposes of this section, retirement month or retirement year means

  • (a) in respect of a pensioner, the month or year during which the pensioner most recently ceased to be a participant; and

  • (b) in respect of a survivor or child, the retirement month or retirement year of the pensioner, or the month or year of death of the participant, in respect of whom the annual allowance is payable.

• Marginal note:Calculation of indexing benefit

  (2) The indexing benefit for a month in any year shall be calculated with reference to the retirement year and shall be equal to the amount of the supplementary retirement benefit that would be payable for that month in respect of the annuity or annual allowance and the bridge benefit of the pensioner, survivor or child under subsections 4(1) and (2) of the Supplementary Retirement Benefits Act if that Act applied to that person.

• Marginal note:Calculation of indexing benefit — year following retirement

  (3) In respect of a month in the year following the retirement year, the indexing benefit is equal to the amount determined by the formula

  A × B/12

  where

  A

  is the amount of the indexing benefit that would, but for this subsection, be payable to the pensioner, survivor or child for that month; and

  B

  is the number of complete months that remained in the retirement year after the retirement month.

• Marginal note:Minimum amount

  (4) The aggregate of the amount of the annuity or annual allowance and the bridge benefit, and of the indexing benefit that may be payable in respect of that amount, in any month of any year, shall not be less than the aggregate of the following amounts that were or may be payable for any month in the year before that year:

  • (a) the annuity or annual allowance and that portion of the indexing benefit that related to it; and

  • (b) if the pensioner continues to be entitled to the bridge benefit, that benefit and the portion of the indexing benefit that related to it.