Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order

SOR/2011-122FINANCIAL ADMINISTRATION ACT
ROYAL CANADIAN MOUNTED POLICE PENSION CONTINUATION ACT
Registration 2011-06-10
Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order
T.B. 836109 2011-06-09Whereas 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 out of it;
Return to footnote aR.S.C. 1970, c. R-10
Therefore, the Treasury Board, 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 and paragraph 7(2)(e) of the Financial Administration ActFootnote b, hereby makes the annexed Royal Canadian Mounted Police (Dependants) Pension Fund Increase in Benefits Order.
Return to footnote bR.S., c. F-111 The following pension benefits, as provided in Part IV of the Royal Canadian Mounted Police Pension Continuation Act R.S.C. 1970, c. R-10 shall be increased in the following manner:

(a) pensions for current and prospective widows and children shall be increased by 2% in each of the 2011, 2012 and 2013 plan years, as of April 1 of each plan year;
(b) lump sum benefits payable on the death of a member shall be increased by 2% in each of the 2011, 2012 and 2013 plan years, as of April 1 of each plan year; and

(c) residual amounts payable on the death of a widow of a member shall be calculated with a deemed increase in the member’s contributions, without crediting the contributions with interest, of

(i) 1,173% if the widow’s death occurs in the 2012 plan year,
(ii) 1,198% if the widow’s death occurs in the 2013 plan year, and
(iii) 1,224% if the widow’s death occurs in the 2014 plan year.

SOR/2012-119, s. 1(F).
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2 This Order comes into effect on April 1, 2011.