The indexing rate for 2018 is 1.6%.
The indexing (pension increase) of Royal Canadian Mounted Police Pension Plan benefits is governed by the Royal Canadian Mounted Police Superannuation Act (RCMPSA) and the Supplementary Retirement Benefits Act (SRBA).
Pension increases for retired members and their survivors are calculated each year using Consumer Price Index (CPI) data published by Statistics Canada. In accordance with the SRBA, the increase is based on a comparison of the CPI average for the twelve-month period ending September 30th to the same period in the previous year. The rates for the last three months of the year will be included in next year’s calculation. The calculation of the increase is payable from January.
Outlined below are the data used to calculate the 2018 pension increase.
|Month/Year||CPIFootnote * %||Month/Year||CPIFootnote * %|
|October 2015||127.2||October 2016||129.1|
|November 2015||127.1||November 2016||128.6|
|December 2015||126.5||December 2016||128.4|
|January 2016||126.8||January 2017||129.5|
|February 2016||127.1||February 2017||129.7|
|March 2016||127.9||March 2017||129.9|
|April 2016||128.3||April 2017||130.4|
|May 2016||128.8||May 2017||130.5|
|June 2016||129.1||June 2017||130.4|
|July 2016||128.9||July 2017||130.4|
|August 2016||128.7||August 2017||130.5|
|September 2016||128.8||September 2017||130.8|
|Monthly Average||127.9||Monthly Average||129.9|
The pension increase for 2018 is calculated by subtracting the monthly average for the first period (October 2015 to September 2016) from the monthly average for the second period (October 2016 to September 2017). The amount is then divided by the monthly average for the first period and finally multiplied by 100, as follows:
129.9 - 127.9 = 2
(2 ÷ 127.9) × 100 = 1.6% (indexing rate for 2018)
- Footnote *
The Consumer Price Index for Canada, All-items CPI, not seasonally adjusted, September 2017, Statistics Canada, Catalogue no. 62-001-X, monthly.
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