“Consumer Price Index” defined
10.1(1)In this section “Consumer Price Index” means the Consumer Price Index for Canada published under the authority of the
Statistics Act, chapter 15 of the Statutes of Canada, 1970-71.
Adjustment of pension paid to beneficiary before Jan. 1, 1978
10.1(2)Where a pension is paid under this Act to a person who was receiving the pension before January 1, 1978, the amount of that pension expressed in annual terms shall be adjusted by multiplying the amount of the pension that would have been payable if no adjustment had been made under this subsection by the ratio that the Consumer Price Index for the year 1972 bears to the Consumer Price Index for the year in which the pension was first received.
Adjustment of pension paid to beneficiary before Jan. 1, 1978
10.1(3)The amount of any pension paid under this Act, after being adjusted in accordance with subsection (2), shall be adjusted, in respect of the previous year, as of the first day of each year,
(a)
for the year 1973 by two per cent;
(b)
for the year 1974 by two per cent;
(c)
for the year 1975 by six per cent;
(d)
for the year 1976 by six per cent;
(e)
for the year 1977 by six per cent; and
(f)
for the year 1978 by six per cent.
Adjustment of pension paid to beneficiary before Jan. 1, 1978
10.1(4)An increase in the amount of a pension adjusted under subsections (2) and (3) shall be effective April 1, 1978.
1978, c.36, s.4; 1978, c.81, s.1, 2