Marginal note:Amounts to be charged to Account
20. (1) There shall be charged to the Retirement Compensation Arrangements Account in each calendar year an amount equal to the amount of tax, if any, that is payable for that year in respect of the Account under subsection 207.7(1) of the Income Tax Act.
Marginal note:Amounts to be credited to other accounts
(2) The amounts charged to the Retirement Compensation Arrangements Account under subsection (1) shall be credited to the appropriate account in the accounts of Canada.
Marginal note:Payment out of Consolidated Revenue Fund
21. Benefits and other amounts payable under a retirement compensation arrangement shall be paid out of the Consolidated Revenue Fund and charged to the Retirement Compensation Arrangements Account.
Marginal note:Benefits not assignable, etc.
(a) a benefit under a special pension plan or retirement compensation arrangement is not capable of being assigned, charged, anticipated or given as security, and any transaction that purports to assign, charge, anticipate or give as security any such benefit is void;
(b) a benefit to which a person is entitled under a special pension plan or retirement compensation arrangement is not capable of being surrendered or commuted during the lifetime of that person, and any transaction that purports to so surrender or commute any such benefit is void; and
(c) a benefit under a special pension plan or retirement compensation arrangement is exempt from attachment, seizure and execution, either at law or in equity.
- 1992, c. 46, Sch. I, s. 22;
- 2000, c. 12, s. 293.
Marginal note:Remedial action
23. Where the Minister is satisfied that, as a result of erroneous advice or an administrative error on the part of any person acting in an official capacity in the administration of a special pension plan, a retirement compensation arrangement or this Act, a person has been denied a benefit to which the person was entitled or the opportunity to exercise a right, to elect a benefit or to opt for a benefit, the Minister may take such remedial action as the Minister considers appropriate to place that person in the position that the person would have been in if that erroneous advice had not been given or that administrative error had not been made.
Marginal note:Recovery of amounts due
24. (1) Where a member or former member of a special pension plan or a person subject to a retirement compensation arrangement dies and an amount payable by that member, former member or person into the Registered Pension Plans Account or Retirement Compensation Arrangements Account remains due at the time of death, that amount, together with interest at the prescribed rate or determined in the prescribed manner, from the time that amount became due, may be recovered in the prescribed manner from any benefit payable under that pension plan or arrangement in respect of that member, former member or person, without prejudice to any other recourse available to Her Majesty in right of Canada with respect to the recovery thereof.
Marginal note:Amounts to be credited to appropriate Account
(2) An amount recovered under subsection (1) shall be credited to the Registered Pension Plans Account or the Retirement Compensation Arrangements Account, as appropriate.
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