An Act to amend the Canadian Forces Superannuation Act and to make consequential amendments to other Acts (S.C. 2003, c. 26)
Full Document:
Assented to 2003-11-07
R.S., c. C-17CANADIAN FORCES SUPERANNUATION ACT
CONSEQUENTIAL AMENDMENTS
2000, c. 12Modernization of Benefits and Obligations Act
37. Sections 66 and 68 of the Modernization of Benefits and Obligations Act are repealed.
1999 c. 34Public Sector Pension Investment Board Act
38. Subsection 118(2) of the Public Sector Pension Investment Board Act (the “Act”) is repealed.
39. Subsection 120(3) of the Act is repealed.
40. Sections 128 to 132 of the Act are repealed.
41. (1) Sections 59.1 and 59.2 of the Canadian Forces Superannuation Act, as enacted by section 154 of the Act, are replaced by the following:
Marginal note:Regulations
59.1 The Governor in Council may make regulations respecting the establishment, funding and administration of pension plans for members of the reserve force prescribed in those regulations to provide for the payment of benefits to or in respect of those members, including regulations respecting the crediting of service in the reserve force as pensionable service for the purposes of Part I and the transfer of amounts in respect of such service from the funds established under the regulations to the Canadian Forces Pension Fund and vice versa.
Marginal note:Contributions by members
59.2 A member of the reserve force who is subject to a plan established in accordance with this Part is required to contribute, by reservation from pay or otherwise, in accordance with the regulations.
(2) Section 59.8 of the Canadian Forces Superannuation Act, as enacted by section 154 of the Act, is repealed.
42. Section 160 of the Act is repealed.
43. Section 168 of the Act is repealed.
44. Clause 6(b)(ii)(O) of the Royal Canadian Mounted Police Superannuation Act, as enacted by subsection 172(4) of the Act, is replaced by the following:
(O) subject to the regulations, any period of service in respect of which payment of a commuted value or a transfer value, as the case may be, to a contributor has been effected in accordance with section 12.1 of this Act, section 22 of the Canadian Forces Superannuation Act or section 13.01 of the Public Service Superannuation Act, if the contributor elects, in accordance with the regulations, to pay for that service, and
45. (1) Subparagraph 11(3)(b)(i) of the Royal Canadian Mounted Police Superannuation Act, as enacted by subsection 178(3) of the Act, is repealed.
(2) Paragraph 11(5)(b) of the Royal Canadian Mounted Police Superannuation Act, as enacted by subsection 178(5) of the Act, is replaced by the following:
(b) if the contributor has served in the Force for a period equal to or greater than the period prescribed by the regulations for the purposes of paragraph (a) but less than the period prescribed by the regulations for the purposes of paragraph (c), the contributor is entitled to a deferred annuity;
(3) Paragraph 11(9)(b) of the Royal Canadian Mounted Police Superannuation Act, as enacted by subsection 178(7) of the Act, is amended by adding the word “or” at the end of subparagraph (iii), by striking out the word “or” at the end of subparagraph (iv) and by repealing subparagraph (v).
(4) Subsection 11(11) of the Royal Canadian Mounted Police Superannuation Act, as enacted by subsection 178(7) of the Act, is replaced by the following:
Marginal note:Return of contributions
(11) Despite anything in this section, except as provided for in subsection (2), (7), (8) or (10), a contributor who ceases to be a member of the Force after serving in the Force for a period less than the period prescribed by the regulations for the purposes of paragraph (7)(a) is entitled only to a return of contributions.
46. Section 12.1 of the Royal Canadian Mounted Police Superannuation Act, as enacted by section 179 of the Act, is replaced by the following:
Marginal note:Transfer value
12.1 (1) Despite any other provision of this Act, except subsection 24.1(6), but subject to the regulations, a contributor who has ceased to be a member of the Force, has served in the Force for a period equal to or greater than the period prescribed by the regulations and is not entitled to an immediate annuity is entitled, in the place of any other benefit under this Act to which the contributor would otherwise be entitled in respect of the pensionable service that the contributor has to their credit, to a transfer value that is payable to the contributor in accordance with subsection (2).
Marginal note:Where transferred
(2) The payment of a transfer value to which a contributor may be entitled under subsection (1) is effected by transferring it to, at the direction of the contributor,
(a) a pension plan selected by the contributor that is registered under the Income Tax Act, if that pension plan so permits;
(b) a retirement savings plan or fund for the contributor that is of the kind prescribed by the regulations; or
(c) a financial institution authorized to sell immediate or deferred life annuities of the kind prescribed by the regulations, for the purchase from that financial institution of such an annuity for the contributor.
Marginal note:Election to pay by instalments
(3) If a contributor who is entitled to a transfer value has elected to pay for a period of pensionable service by means of instalments, the transfer value shall be determined in accordance with the regulations and by reference to the portion of the period of pensionable service that the contributor has paid for at the time prescribed in the regulations.
Marginal note:Election
(4) Once a transfer has been made under subsection (1), a person who is re-appointed or re-enlisted as a member of the Force after the transfer and becomes a contributor may only count as pensionable service the period of service to which the transfer relates if they elect, in accordance with the terms and conditions prescribed by the regulations, to pay the amount prescribed by the regulations at the time and in the manner prescribed by the regulations.
47. Subsection 24.1(7) of the Royal Canadian Mounted Police Superannuation Act, as enacted by section 191 of the Act, is replaced by the following:
Marginal note:Payment of difference
(7) Subject to subsection (8), if the amount paid by the Minister to an eligible employer pursuant to subsection (3) in respect of an employee is less than the transfer value that would be calculated in respect of that employee in accordance with section 12.1, whether or not the employee would otherwise be entitled to the transfer value, the Minister shall pay an amount equal to the amount of the difference to the employee in accordance with subsection 12.1(2).
R.S., c. P-36Public Service Superannuation Act
48. (1) Clause 6(1)(b)(iii)(I) of the Public Service Superannuation Act is replaced by the following:
(I) any period of service in respect of which the contributor has received any amount by way of a return of contributions or other lump sum payment, other than a transfer value, under this Part or Part I of the Superannuation Act, if the contributor elects, within one year after subsequently becoming a contributor under this Part, to pay for that service,
Marginal note:1996, c. 18, s. 22(3)
(2) Clause 6(1)(b)(iii)(M) of the Act is replaced by the following:
(M) subject to the regulations, any period of service in respect of which payment of a transfer value or a commuted value, as the case may be, to a contributor has been effected in accordance with section 13.01 of this Act, section 22 of the Canadian Forces Superannuation Act or section 12.1 of the Royal Canadian Mounted Police Superannuation Act, if the contributor elects, in accordance with the regulations, to pay for that service, and
Marginal note:1999, c. 34, s. 61(2)
49. Subsection 8(8) of the Act is replaced by the following:
Marginal note:Recovery of amounts due at time of death
(8) When an amount payable by a contributor into the Superannuation Account or the Public Service Pension Fund by reservation from salary or otherwise has become due, but remains unpaid at the time of death, that amount, with interest at four per cent per annum from the time when it became due, may be recovered, in accordance with the regulations, from any allowance payable under this Part to the survivor or children of the contributor, without prejudice to any other recourse available to Her Majesty with respect to the recovery of it, and any amount so recovered shall be credited to the Superannuation Account or paid into the Public Service Pension Fund and is deemed, for the purposes of the definition “return of contributions” in subsection 10(1), to have been paid into that Account or Fund by the contributor.
Marginal note:1999, c. 34, s. 64(5)
50. The portion of subsection 12(4) of the Act after paragraph (a) is replaced by the following:
(b) in the case of each child, an immediate annual allowance equal to one-fifth of the basic allowance or, if the contributor died without leaving a survivor, the survivor is dead or the survivor is not entitled to receive an allowance under this Part, other than an immediate annual allowance under section 13.1, two-fifths of the basic allowance,
but the total amount of the allowances paid under paragraph (b) shall not exceed four-fifths of the basic allowance or, if the contributor died without leaving a survivor, the survivor is dead or the survivor is not entitled to receive an allowance under this Part, other than an immediate annual allowance under section 13.1, eight-fifths of the basic allowance.
Marginal note:1996, c. 18, s. 31
51. Subsection 13.01(1) of the Act is replaced by the following:
Marginal note:Transfer value
13.01 (1) Despite any other provision of this Act, except subsections 40(7) and 40.2(6), but subject to the regulations, a contributor who has ceased to be employed in the Public Service and is not entitled to an immediate annuity and has to the contributor’s credit two or more years of pensionable service is entitled, in the place of any other benefit under this Act to which the contributor would otherwise be entitled in respect of that period of pensionable service, to a transfer value that is payable to the contributor in accordance with subsection (2).
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