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16 |
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Fourth
Session, 45th General Assembly 56
Elizabeth II, 2007 |
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AN ACT TO AMEND THE
PUBLIC SERVICE PENSIONS ACT, 1991, THE TEACHERS' PENSIONS ACT |
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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
THOMAS W. MARSHALL, Q.C. Minister of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
EXPLANATORY NOTES This Bill would amend the Public Service Pensions Act, 1991, the Teachers' Pensions Act and the Uniformed Services Pensions Act, 1991 to
eliminate references to mandatory retirement and to permit employees under each
Act who work beyond normal retirement age to continue to participate in the pension
plan until the earlier of the date of termination of employment and the date
that payment of a pension benefit is required to begin under the Income Tax Act ( The Bill would additionally provide
that current employees who reached normal retirement age before Finally, the Bill would remove the 37.5
year limitation on pensionable service and the 75% of pensionable earnings
limitation contained in the Uniformed
Services Pension Act, 1991. |
A BILL AN ACT TO AMEND THE PUBLIC SERVICE PENSIONS
ACT, 1991, THE TEACHERS' PENSIONS ACT Analysis PUBLIC SERVICE PENSIONS ACT, 1991 1.
S.8 Amdt. 2.
S.16 Amdt. 3.
S.18 Amdt. 4.
S.21 Amdt. 5.
S.22 Rep. TEACHERS' PENSIONS ACT 6.
S.10 Amdt. 7.
S.18 R&S 8.
S.24 Amdt. 9.
S.25 Rep. UNIFORMED SERVICES PENSIONS ACT, 1991 10.
S.6 Amdt. 11.
S.10 Amdt. 12.
S.15 R&S 13.
S.19 Amdt. 14.
S.20 Amdt. 15.
S.23 Amdt. 16. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: PUBLIC SERVICE PENSIONS ACT, 1991 SNL1991 c12 1. Section 8 of the Public Service Pensions Act, 1991 is amended by adding immediately after subsection (3) the following: (3.1) Where an employee (a) continued in employment after reaching normal
retirement age before (b) continues to be an employee on and after (c) did not receive a pension upon reaching normal retirement age, he or she may be credited with the
pensionable service in respect of the period of service beyond normal
retirement age that he or she may elect to purchase in accordance with prescribed
terms and conditions. 2. Subsection 16(1) of the Act is repealed and the following substituted: Retirement 16. (1) An employee shall be retired under the pension plan (a) where he or she makes an election under
section 19 or terminates employment upon reaching normal retirement age, or,
where he or she continues working past normal retirement age, at the earlier of
termination of employment or reaching the age at which a pension benefit is
required to begin under the Income Tax
Act (Canada); or (b) where, after the employee has used up all sick leave entitlement, he or she is unable to perform efficiently the duties of his or her position or the duties of an alternative position owing to incapacity that is medically certified to the satisfaction of the minister as likely to be permanent from a date to be determined by the minister. 3. Subsection 18(5) of the Act is repealed and the following substituted: (5) The reduction under subsection (3) shall occur on the first of the month following the month in which the employee reaches the age of 65 years or, when the employee commences receipt of a pension under the pension plan, whichever is the later. 4. Subsections 21(1) and (2) of the Act are repealed and the following substituted: Offer of re-employment 21. (1) A pensioner who has retired under the pension plan upon termination of employment but has not reached the age at which a pension benefit is required to begin under the Income Tax Act (Canada) may be re-employed in a pensionable position. (2) A pensioner who has retired under the pension
plan under paragraph 16(1)(b) but has not reached the age at which a pension
benefit is required to begin under the Income
Tax Act ( 5. Section 22 of the Act is repealed. TEACHERS' PENSIONS ACT SNL1991 c17 6. Section 10 of the Teachers' Pensions Act is amended by adding immediately after subsection (2) the following: (3) Where a teacher (a) continued in employment after reaching normal
retirement age before (b) continues to be employed as a teacher on and
after (c) did not receive a pension upon reaching normal retirement age, he or she may be credited with the
pensionable service in respect of the period of service beyond normal
retirement age that he or she may elect to purchase in accordance with prescribed
terms and conditions. 7. Section 18 of the Act is repealed and the following substituted: Retirement 18. A teacher shall be retired under the pension plan (a) when he or she makes an election under section 20 or terminates employment upon reaching normal retirement age; or (b) where he or she continues in employment after
reaching normal retirement age, when he or she terminates employment or reaches
the age at which a pension benefit is required to begin under the Income Tax Act ( 8. (1) Subsections 24(1) and (2) of the Act are repealed and the following substituted: Re-employment 24. (1) A pensioner who has retired under the pension plan upon termination of employment but has not reached the age at which a pension benefit is required to begin under the Income Tax Act (Canada) may be re-employed in a pensionable position as a teacher. (2) A pensioner who has been retired under the
pension plan under subsection 19(1) but has not reached the age at which a
pension benefit is required to begin under the Income Tax Act ( (2) Subsection 24(4) of the Act is amended by
striking out the word "teacher" where it first occurs and
substituting the word "pensioner". 9. Section 25 of the Act is repealed. UNIFORMED SERVICES PENSIONS ACT, 1991 SNL1991 c19 10. (1) Subsection 6(6) of the Uniformed Services Pensions Act, 1991 is repealed. (2) Subsection 6(7) of the Act is repealed and the following substituted: (7) Where contributions have been deducted from the salary of an employee in excess of those set out in subsection (2), (3), (4) or (5), those excess contributions shall be returned to the employee together with interest at the prescribed rate. 11. Section 10 of the Act is amended by adding
immediately after subsection (2) the following: (3) Where an employee (a) continued in employment after reaching normal
retirement age before (b) continues to be an employee on and after (c) did not receive a pension upon reaching normal retirement age, he or she may be credited with the pensionable service in respect of the period of service beyond normal retirement age that he or she may elect to purchase in accordance with prescribed terms and conditions. 12. Section 15 of the Act is repealed and the following substituted: Retirement 15. An employee, excluding an RCA employee who is not an RCA commissioned officer, who has accrued at least 5 years of pensionable service shall be retired under the pension plan (a) when he or makes an election under section 17 or terminates employment upon reaching normal retirement age; or (b) where he or she continues in employment after
reaching normal retirement age, when he or she terminates employment or reaches
the age at which a pension benefit is required to begin under the Income Tax Act ( 13. Subsection 19(2) of the Act is repealed. 14. Subsection 20(4) of the Act is repealed and the following substituted: (4) The reduction under subsection (1) shall occur on the first of the month following the month in which the employee reaches the age of 65 years or commences receipt of a pension, whichever is the later. 15. Subsection 23(1) of the Act is repealed and the following substituted: Re-employment 23. (1) A pensioner who has retired under the pension plan upon termination of employment but has not reached the age at which a pension benefit is required to begin under the Income Tax Act (Canada) may be re-employed in a pensionable position. (1.1) A pensioner who has retired under the pension
plan under section 18 but who has not reached the age at which a pension
benefit is required to begin under the Income
Tax Act (Canada) may, upon proof of good health and with the consent of the
minister, be re-employed in a pensionable position. Commencement 16. This Act shall come into force on ŠEarl G. Tucker, Queen's Printer |