Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order (SOR/2022-43)
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Regulations are current to 2024-10-30
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
SOR/2022-43
ROYAL CANADIAN MOUNTED POLICE PENSION CONTINUATION ACT
Registration 2022-03-04
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
P.C. 2022-198 2022-03-03
Whereas it appears from a report made under section 56 of the Royal Canadian Mounted Police Pension Continuation ActFootnote a that the Royal Canadian Mounted Police (Dependants) Pension Fund is substantially in excess of the amount required to make adequate provision for the prospective payments to be made out of it;
Return to footnote aR.S.C. 1970, c. R-10
Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Public Safety and Emergency Preparedness, pursuant to subsection 57(1) of the Royal Canadian Mounted Police Pension Continuation ActFootnote a, makes the annexed Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order.
1 The following pension benefits, as provided in Part IV of the Royal Canadian Mounted Police Pension Continuation Act, are to be increased in the following manner:
(a) pensions for current and prospective widows are to be increased by 2% on April 1 in each of the 2020, 2021 and 2022 plan years;
(b) lump sum benefits payable on the death of a former member who contributed to the plan and who is not survived by a widow are to be increased by 2% on April 1 in each of the 2020, 2021 and 2022 plan years; and
(c) residual amounts payable on the death of a former member’s widow are to be calculated with a deemed increase in the former member’s contributions of
(i) 1,381% if the widow’s death occurs in the 2021 plan year,
(ii) 1,411% if the widow’s death occurs in the 2022 plan year, and
(iii) 1,441% if the widow’s death occurs in the 2023 plan year.
2 This Order comes into force on the day on which it is registered.
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