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Third
Session, 45th General Assembly 55
Elizabeth II, 2006 |
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AN ACT TO AMEND THE
PROVINCIAL COURT |
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Received and Read the First Time................................................................................................... |
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Second |
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Committee............................................................................................................................................ |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE
LOYOLA SULLIVAN Minister
of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
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EXPLANATORY NOTES Clause 1 of the Bill would amend the Provincial Court Judges' Pension Plan Act to reduce the service condition for early retirement eligibility for a pension from 20 years to 5 years and would reduce the actuarial reduction applicable to the pension to 6% from 7% for each year the age at retirement is less than 65 years if the payment commences between the ages of 60 and 65 years. Clause 2 of the Bill would reduce the service condition for eligibility for a reduced supplementary allowance from 20 years to 5 years and would reduce the actuarial reduction applicable to the supplementary allowance to 6% from 7% for each year the age of retirement is less than 65 years if the payment commences between the ages of 60 and 65 years. Clause 3 of the Bill would make the
amendments in this Bill retroactive to |
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A AN ACT TO AMEND THE
PROVINCIAL COURT JUDGES' PENSION Analysis 1.
S.11 Amdt. 2.
S.21 Amdt. 3. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2004 cP-29.1 as amended 1. (1) Subparagraph 11(1)(b)(i) of the Provincial Court Judges' Pension Plan Act is amended by deleting the number "20" and substituting the number "5". (2) Paragraph 11(2)(a) of the Act is repealed and the following is substituted: (a) 6% for each year that the judge's age when the
allowance commences is less than 65 to a maximum reduction under this paragraph
of 30%; and 2. (1) Subparagraph 21(1)(b)(i) of the Act is amended by deleting the number "20" and substituting the number "5". (2) Paragraph 21(2)(a) of the Act is repealed and the following is substituted: (a) 6% for each year that the judge's age when the
allowance commences is less than 65 to a maximum reduction under this paragraph
of 30%; and Commencement 3. This Act shall be considered to have come into
force on ŠEarl G. Tucker, Queen's Printer |