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Members of Parliament Retiring Allowances Regulations

Version of section 3 from 2006-03-22 to 2020-08-24:

  •  (1) The Minister shall, in each calendar month, credit to the Account an amount equal to the contributions paid in that month pursuant to sections 6 and 15 of the Act.

  • (2) Where a member has elected, pursuant to section 7, 8 or 19 of the Act, to contribute in respect of a previous session, the Minister shall, in the calendar month in which the member so elects, credit to the Account an amount equal to the amount that becomes payable by the member under subsection 9(1) and section 20 of the Act.

  • (3) Interest shall be credited to the Account in respect of each quarter in each fiscal year, on the last day of June, September, December and March, calculated at the rate of 2½ per cent of the balance to the credit of the Account on the last day of the preceding quarter.

  • SOR/83-613, s. 1

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