Former Members of Parliament Counting of Service Regulations (SOR/2016-76)

Lump Sum Payment

Marginal note:Lump sum payment

17 A contributor who opts to pay in a lump sum under section 5 or who does not pass the medical examination required under section 15 must ensure that the lump sum is received by the Commissioner of the Royal Canadian Mounted Police within 30 days after the day on which the notice that advises the contributor of the amount is sent.

Marginal note:Interest

18 The lump sum bears interest, compounded annually, beginning on the first day of the month after the day on which the election is made and ending on the last day of the month that precedes the day on which the payment is received, at a rate equal to the projected rate of return of the Royal Canadian Mounted Police Pension Fund that was used in the preparation of the actuarial valuation report that was most recently laid before Parliament, in accordance with section 30 of the Act, before the day on which the payment is received or, if that report was laid before Parliament in the month in which that day falls or in the preceding month, of the report that was laid before Parliament immediately before that report.

Marginal note:Service counted in full

• 19 (1) If the full lump sum is received by the Commissioner of the Royal Canadian Mounted Police within the time limit set out in section 17, the period of service in respect of which the election was made is to be counted as pensionable service.

• Marginal note:Service counted in part

  (2) If the full lump sum is not received by the Commissioner within the time limit, the period of service in respect of which the election was made is to be counted as pensionable service, beginning with the part that is most recent in point of time, in the same proportion as the amount that is received by the Commissioner within that time limit bears to the lump sum.

Retirement Allowance

Repayment of Certain Benefits

Marginal note:Partial repayment

• 20 (1) A contributor who is entitled to a retirement allowance under the Members of Parliament Retiring Allowances Act and who makes an election referred to in section 1 must repay to the Royal Canadian Mounted Police Pension Fund the amount that they received in respect of that allowance beginning in the 13th month after the day on which they most recently became a contributor.

• Marginal note:Terms

  (2) The repayment must be made in accordance with the terms set out in sections 6 to 14, except that the amount bears simple interest at 4% per year.

• Marginal note:Election — section 10 of Members of Parliament Retiring Allowances Act

  (3) A contributor who made an election under section 10 of the Members of Parliament Retiring Allowances Act must pay to the Royal Canadian Mounted Police Pension Fund, in accordance with the terms that are applicable to that election, the amount that they were required to pay into the Consolidated Revenue Fund in accordance with section 11 of that Act, less any amount already paid.

Transfer of Certain Amounts to the Royal Canadian Mounted Police Pension Fund

Marginal note:Amount to be transferred

21 All amounts that the contributor has paid into the Members of Parliament Retiring Allowances Account referred to in subsection 3(1) of the Members of Parliament Retiring Allowances Act and all amounts credited to that Account in respect of the contributor are to be transferred to the Royal Canadian Mounted Police Pension Fund.

Repeal

22 [Repeal]

Coming into Force

Marginal note:Registration

23 These Regulations come into force on the day on which they are registered.