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Retirement Compensation Arrangements Regulations, No. 1

Version of section 70 from 2016-06-17 to 2022-11-16:

  •  (1) For the purposes of subsection 16(1) of the Act, the following are designated corporations:

    • (a) every public service corporation set out in Part I of Schedule I to the Public Service Superannuation Act; and

    • (b) every corporation that forms part of the public service as a result of a direction of the Treasury Board made under paragraph 40.1(2)(a) of the Public Service Superannuation Act, during the period set out in the direction.

  • (2) Every corporation referred to in subsection (1) shall pay to the Retirement Compensation Arrangements Account an amount equal to

    • (a) in respect of each month during the period from December 15, 1994 to March 31, 1995, the amount contributed to that Account by each employee who is a participant, unless the employee has contributed in respect of that period at a rate equal to twice the rate referred to in subsection 29(1); and

    • (b) in respect of each month after March 31, 1995, an amount equal to the total of

      • (i) in respect of each employee who contributed to that Account in respect of that month at twice the rate referred to in section 29(1), the product of

        • (A) the amount contributed by the employee in respect of that month,

        multiplied by

        • (B) the rate used in estimating an amount under paragraph 18(1)(a) of the Act in respect of that month less the applicable rate set out in section 5 of the Public Service Superannuation Act, divided by 2, and

      • (ii) in respect of every other employee who contributed to that Account in respect of that month,

        • (A) the amount contributed by the employee in respect of that month,

        multiplied by

        • (B) the rate used in estimating an amount under paragraph 18(1)(a) of the Act in respect of that month.

  • SOR/98-510, s. 1
  • SOR/2002-73, s. 30
  • SOR/2012-114, s. 7(F)
  • SOR/2016-156, s. 11(E)
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