Canadian Forces Superannuation Regulations

67 (1) Subject to subsection (2), the amount of the reduction determined in accordance with section 66 is increased each year beginning on January 1 of the year after the year in which the reduction is first in effect, by the amount that would be payable as a supplementary benefit under Part III of the Act if the amount of the reduction were an immediate annuity that became payable under Part I of the Act on January 1 of the year in which the option is exercised.

(2) If the option is exercised in the year in which the contributor retires, the increase in the amount of the reduction under subsection (1) is determined in respect of the first year during which the increase is in effect, beginning on the first day of the month in which the contributor most recently ceases to be a member of the regular force.