Designation of Beneficiaries
54. (1) Subject to the provisions of this section, a participant may, for the purposes of Part II of the Act, name a beneficiary under Part II of the Act or substitute a new named beneficiary or cancel the naming of any beneficiary.
(2) The naming of a beneficiary or the substitution or cancellation of a named beneficiary by a participant referred to in subsection (1) shall be evidenced in writing in a form prescribed by the Minister, dated, witnessed and forwarded to the Minister.
(3) The naming of a beneficiary or the substitution or cancellation of a named beneficiary by a participant referred to in subsection (1) shall be effective on the date the participant executes the form referred to in subsection (2) if the completed form is received by the Minister prior to the death of the participant.
(4) For the purposes of Part II of the Act, a beneficiary may be
(a) the participant’s estate;
(b) any person over the age of 18 years on the date of the naming;
(c) any charitable organization or institution;
(d) any benevolent organization or institution; or
(e) any eleemosynary religious or educational organization or institution.
55. Commencing with the quarter of the fiscal year ending March 31, 1974, interest shall be credited to the Regular Force Death Benefit Account in respect of each quarter in each fiscal year on the last day of June, September, December and March, calculated at the rate referred to in subsection 36(2) of these Regulations on the balance to the credit of the Account on the last day of the preceding quarter.
- SOR/2001-131, s. 2(F).
56. (1) There shall be issued to each elective participant, as evidence that he is a participant under the Act, a document
(a) in Form 1 of Schedule II in the case of an elective participant who ceases to be a member of the regular force and to whom an immediate annuity or pension is payable under the Act or the Defence Services Pension Continuation Act; and
(b) in Form 2 of Schedule II in all cases other than the case mentioned in paragraph (a).
(2) Every document issued to an elective participant under subsection (1) shall be signed by the Chief of the Defence Staff or by a person authorized by him to sign such documents on his behalf.
(3) The signature on each document issued to elective participants under subsection (1) may be printed, painted, engraved, lithographed, photographed or represented or reproduced by any mode of representing or reproducing the signature in a visible form.
- SOR/92-717, s. 9(F).
Election in Respect of Surviving Spouse Benefits
57. For the purposes of sections 58 to 75,
“election” means an election under section 25.1 of the Act; (choix)
- “level of reduction”
“level of reduction” means, in respect of an annuity, one of the three amounts determined pursuant to section 66, where levels one, two and three correspond to a reduction that provides a surviving spouse with an immediate annual allowance that is equal to 30, 40 or 50 per cent, respectively, of an annuity referred to in clause 66(1)(b)(ii)(A), if paragraph 66(1)(b) were read without reference to supplementary benefits payable under Part III of the Act; (niveau de réduction)
“spouse” means a spouse referred to in section 25.1 of the Act. (conjoint)
- SOR/94-276, s. 1.
- Date modified: