20. The maximum amount of the life income for a fiscal year of the life income fund is equal to the amount “E” in the following formula:
F x C - —— = E
“F” represents the factor provided for in Schedule 0.6 with respect to the reference rate for the year covered by the fiscal year and the purchaser’s age at the end of the preceding year;
“C” represents the balance of the fund at the beginning of the fiscal year, increased by any sums transferred to the fund after that date and reduced by any sums originating directly or not during the same year from a life income fund or the locked-in account of a voluntary retirement savings plan governed by the Voluntary Retirement Savings Plans Act (chapter R-17.0.1) and offering variable payments of the purchaser;
“A” represents the maximum temporary income for the fiscal year determined in accordance with section 20.4 or 20.5 or, if no amount was determined, the figure zero;
“D” represents the factor provided for in Schedule 0.7 with respect to the purchaser’s age at the end of the year preceding the one covered by the fiscal year.
The amount “E” may not be less than zero.