Government Annuities Regulations (C.R.C., c. 879)

18 The Minister may enter into an agreement to vary the terms of a contract entered into pursuant to section 4 of the Act, or he may vary the terms of an approved form of contract being entered into pursuant to that section, so that the contract conforms to the requirements of the Income Tax Act respecting a “Registered Retirement Savings Plan” within the meaning of that Act.

Amount Payable

19 Where the amount payable by way of an annuity or annuities to an employee who is registered under an annuity contract mentioned in subsection 6(3) of the Act is increased and that increase is purchased with moneys that have been paid by the employer pursuant to the contract and that would otherwise be refundable under the contract to the employer without interest, the total amount payable by way of an increased annuity or increased annuities may exceed the maximum permitted by subsection 6(1) of the Government Annuities Improvement Act.

20 The amount of the lump sum payment that is payable pursuant to section 9 of the Government Annuities Improvement Act shall be calculated as the value of the remaining instalments that would

• (a) be payable under the contract pursuant to section 5 of the Government Annuities Improvement Act, discounted at the rate of seven per cent per annum, or

• (b) otherwise have been payable under the contract, discounted at the rate or rates of interest applicable to the annuity contract pursuant to the Act,

whichever produces the greater amount.

Death of Annuitant

21 Where the purchaser or an annuitant under an annuity contract dies outside Canada, a grant of letters probate, or similar document of a court or authority outside Canada may be proved by the production of a copy of such document duly certified or authenticated by a judge or officer of that court or authority or a notary public or in such other manner as is acceptable to the Minister.