Marginal note:Regulations

59.1 The Governor in Council may make regulations respecting the establishment, funding and administration of pension plans for members of the reserve force prescribed in those regulations to provide for the payment of benefits to or in respect of those members, including regulations respecting the crediting of service in the reserve force as pensionable service for the purposes of Part I and the transfer of amounts in respect of such service from the funds established under the regulations to the Canadian Forces Pension Fund and vice versa.

Marginal note:Contributions by members

59.2 A member of the reserve force who is subject to a plan established in accordance with this Part is required to contribute, by reservation from pay or otherwise, in accordance with the regulations.

Marginal note:Amounts to be deposited

59.3 There shall be deposited into a fund established under the regulations made under section 59.1, at the time and in the manner prescribed by the regulations, in addition to any other amounts that are prescribed by the regulations to be deposited to the fund,

• (a) in the case of a fund established for the payment of benefits that are related to periods of pensionable service, amounts estimated by the President of the Treasury Board to meet the cost of those benefits; and

• (b) in the case of any other fund, the amounts that are determined by the Minister in accordance with the regulations to be required to be deposited to the fund.

Marginal note:Transfer of amounts

59.4 If the regulations made under section 59.1 so provide, amounts deposited in a fund referred to in paragraph 59.3(a) or (b) shall be transferred to the Public Sector Pension Investment Board within the meaning of the Public Sector Pension Investment Board Act to be dealt with in accordance with that Act.

Marginal note:Deposit

59.5 If the regulations made under section 59.1 so provide, amounts deposited in a fund referred to in paragraph 59.3(b) may be deposited with a financial institution specified in the regulations.

Marginal note:Public Pensions Reporting Act

• 59.6 (1) In accordance with the Public Pensions Reporting Act, a cost certificate, an actuarial valuation report and an assets report on the state of a plan established in accordance with this Part the benefits for which would come out of a fund referred to in paragraph 59.3(a) shall be prepared, filed with the Minister designated under that Act and laid before Parliament.

• Marginal note:Review date

  (2) For the purposes of subsection (1), the review date as of which an actuarial valuation report of the plan referred to in that subsection must be conducted for the purposes of the first valuation report is the date prescribed in the regulations and, for each subsequent report, the review dates must not be more than three years apart.