Acts and Regulations

M-7.1 - Members’ Pension Act

Section 14.1
Disposition versions

Full text
Annual adjustment of pension - person who ceased to be a member before April 1, 2008
14.1(1)In this section
“Consumer Price Index” means the Consumer Price Index for Canada published under the authority of the Statistics Act (Canada);(indice des prix à la consommation)
“pension index” means for each year, the average of the Consumer Price Index for the twelve month period ending June 30 in the year preceding that year unless the average is less than 1.01 times the pension index for the preceding year, in which case the pension index for the year is the pension index for the preceding year.(indice de pension)
14.1(1.1)This section applies to a pension paid in respect of a person who ceased to be a member before April 1, 2008.
14.1(2)Where a pension is paid under this Act to a person who first received the pension after March 31, 1997, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2001, by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
14.1(3)Notwithstanding subsection (2), the first adjustment under subsection (2) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (2) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which cessation of employment or death took place in the year preceding the year in which the first adjustment is made.
14.1(4)Notwithstanding subsection (2), any increase in the amount of pension payable under this Act by virtue of any adjustment made under subsection (2) relating to any period before January 1, 2001, shall be implemented
(a) so as to be effective January 1, 2001, and
(b) without any retroactive payment being made in respect of any period before January 1, 2001.
2001, c.5, s.1; 2011, c.35, s.6
Annual adjustment of pension - person who ceased to be a member before April 1, 2008
14.1(1)In this section
“Consumer Price Index” means the Consumer Price Index for Canada published under the authority of the Statistics Act (Canada);
“pension index” means for each year, the average of the Consumer Price Index for the twelve month period ending June 30 in the year preceding that year unless the average is less than 1.01 times the pension index for the preceding year, in which case the pension index for the year is the pension index for the preceding year.
14.1(1.1)This section applies to a pension paid in respect of a person who ceased to be a member before April 1, 2008.
14.1(2)Where a pension is paid under this Act to a person who first received the pension after March 31, 1997, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2001, by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
14.1(3)Notwithstanding subsection (2), the first adjustment under subsection (2) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (2) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which cessation of employment or death took place in the year preceding the year in which the first adjustment is made.
14.1(4)Notwithstanding subsection (2), any increase in the amount of pension payable under this Act by virtue of any adjustment made under subsection (2) relating to any period before January 1, 2001, shall be implemented
(a) so as to be effective January 1, 2001, and
(b) without any retroactive payment being made in respect of any period before January 1, 2001.
2001, c.5, s.1; 2011, c.35, s.6
Annual adjustment of pension
14.1(1)In this section
“Consumer Price Index” means the Consumer Price Index for Canada published under the authority of the Statistics Act (Canada);
“pension index” means for each year, the average of the Consumer Price Index for the twelve month period ending June 30 in the year preceding that year unless the average is less than 1.01 times the pension index for the preceding year, in which case the pension index for the year is the pension index for the preceding year.
14.1(2)Where a pension is paid under this Act to a person who first received the pension after March 31, 1997, the amount of that pension shall be adjusted as of the first day of each year, beginning on January 1, 2001, by multiplying the amount of the pension that would have been payable for that year if no adjustment had been made under this subsection with respect to that following year, by the ratio that the pension index for that year bears to the pension index for the preceding year or 1.06, whichever is the lesser.
14.1(3)Notwithstanding subsection (2), the first adjustment under subsection (2) shall be the amount determined by multiplying the increase, if any, that would otherwise be payable under subsection (2) by a fraction the denominator of which is 12 and the numerator of which is equal to the number of months following the month in which cessation of employment or death took place in the year preceding the year in which the first adjustment is made.
14.1(4)Notwithstanding subsection (2), any increase in the amount of pension payable under this Act by virtue of any adjustment made under subsection (2) relating to any period before January 1, 2001, shall be implemented
(a) so as to be effective January 1, 2001, and
(b) without any retroactive payment being made in respect of any period before January 1, 2001.
2001, c.5, s.1