Retirement Compensation Arrangements Regulations, No. 1

70 (1) For the purposes of subsection 16(1) of the Act, the following are designated corporations:

• (a) every public service corporation set out in Part I of Schedule I to the Public Service Superannuation Act; and

• (b) every corporation that forms part of the public service as a result of a direction of the Treasury Board made under paragraph 40.1(2)(a) of the Public Service Superannuation Act, during the period set out in the direction.

(2) Every corporation referred to in subsection (1) shall pay to the Retirement Compensation Arrangements Account an amount equal to

• (a) in respect of each month during the period from December 15, 1994 to March 31, 1995, the amount contributed to that Account by each employee who is a participant, unless the employee has contributed in respect of that period at a rate equal to twice the rate referred to in subsection 29(1); and

• (b) in respect of each month after March 31, 1995, an amount equal to the total of

  • (i) in respect of each employee who contributed to that Account in respect of that month at twice the rate referred to in section 29(1), the product of

    • (A) the amount contributed by the employee in respect of that month,

    multiplied by

    • (B) the rate used in estimating an amount under paragraph 18(1)(a) of the Act in respect of that month less the applicable rate set out in section 5 of the Public Service Superannuation Act, divided by 2, and

  • (ii) in respect of every other employee who contributed to that Account in respect of that month,

    • (A) the amount contributed by the employee in respect of that month,

    multiplied by

    • (B) the rate used in estimating an amount under paragraph 18(1)(a) of the Act in respect of that month.