Indexing rate: Royal Canadian Mounted Police pension plan
The indexing rate for 2022 is 2.4%.
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 12-month period ending September 30 to the same period in the previous year. The rates for the last 3 months of the year will be included in next year’s calculation.
The calculation of the increase is payable from January 2022.
| 2019-2020 Month/Year | 2019-2020 Consumer Price Indextable 1 note 1 % | 2020-2021 Month/Year | 2020-2021 Consumer Price Indextable 1 note 1 % |
|---|---|---|---|
| October 2019 | 136.6 | October 2020 | 137.5 |
| November 2019 | 136.4 | November 2020 | 137.7 |
| December 2019 | 136.4 | December 2020 | 137.4 |
| January 2020 | 136.8 | January 2021 | 138.2 |
| February 2020 | 137.4 | February 2021 | 138.9 |
| March 2020 | 136.6 | March 2021 | 139.6 |
| April 2020 | 135.7 | April 2021 | 140.3 |
| May 2020 | 136.1 | May 2021 | 141.0 |
| June 2020 | 137.2 | June 2021 | 141.4 |
| July 2020 | 137.2 | July 2021 | 142.3 |
| August 2020 | 137.0 | August 2021 | 142.6 |
| September 2020 | 136.9 | September 2021 | 142.9 |
| Total | 1,640.3 | Total | 1,679.8 |
| Monthly average for 2019-2020 | 136.7 | Monthly average for 2020-2021 | 140.0 |
Table 1 Notes
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The pension increase (indexing rate) for 2022 is the percentage increase in the monthly average CPI. This is calculated by subtracting the monthly average for the first period (October 2019 to September 2020) from the average for the second period (October 2020 to September 2021), then dividing this amount by the monthly average for the first period and finally multiplying it by 100, as follows:
- 140.0 − 136.7 = 3.3
- (3.3 ÷ 136.7) × 100 = 2.4% (indexing rate for 2022)