Order in Council 2054/2017

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Pursuant to subsections 7(2) and (3) of the Financial Administration Act, and section 9.2 of Schedule 1 to Order in Council 1902/2009, the Minister of Finance is authorized to credit from the Consolidated Revenue Fund to the Supplemental Pension Plan for Justices of the Peace Account:

1. interest on the net monthly increases to the said account computed on the contributions to and outgoings from the said account in respect of each of the months in the fiscal year commencing on April 1, 2016, such interest to be calculated at a rate of 3.014 per cent per annum to reflect the length of time for which amounts included in such net increases were on deposit with the Consolidated Revenue Fund during the said fiscal year and to be credited as of March 31, 2017; and
2. interest on the net increases to the said account during the fiscal year ended March 31,2017, to be calculated at a rate of 3.014 per cent per annum for each fiscal year in the period of twenty-five consecutive fiscal years commencing on April 1, 2017, to be credited on the last day of each fiscal year, if such net increase remains on deposit with the Consolidated Revenue Fund for the whole of that fiscal year.