Canada Gazette
www.gazette.gc.ca
Common menu bar links
Vol. 134, No 8 — April 12, 2000
Registration
SOR/2000-137 31 March, 2000
PUBLIC SERVICE SUPERANNUATION ACT
FINANCIAL ADMINISTRATION ACT
Regulations Amending the Public Service Superannuation Regulations
T.B. 828042 30 March, 2000
The Treasury Board, on the recommendation of the President of the Treasury Board, pursuant to section 37 (see footnote a) and paragraph 42(1)(pp) (see footnote b) of the Public Service Superannuation Act and paragraph 7(2)(a) of the Financial Administration Act, hereby makes the annexed Regulations Amending the Public Service Superannuation Regulations.
REGULATIONS AMENDING THE PUBLIC SERVICE SUPERANNUATION REGULATIONS
AMENDMENTS
1. Section 9 (see footnote 1) of the Public Service Superannuation Regulations (see footnote 2) is replaced by the following:
9. The President of the Treasury Board shall determine the amount to be paid pursuant to section 37 of the Act by a Public Service corporation or other corporation specified in Schedule I, in accordance with the following:
(a) in the case of contributions of an employee in respect of any period of current service before April 1, 2000, an amount equal to the amount of contributions required to be paid by the employee, unless the employee contributes in respect of such period an amount equal to twice the amount the employee would have been required to pay under section 5 of the Act and under section 65 of the Act as it read on December 31, 1999, if applicable;
(b) in the case of contributions of an employee in respect of any period of elective service specified in paragraph 6(1)(b) of the Act for which an election is made before April 1, 2000, an amount equal to the amount of contributions and interest required to be paid by the employee, unless the employee, in respect of such period, is required to contribute an amount equal to twice the amount that would have been required to be paid by the employee in respect of a similar period of current service;
(c) in the case of contributions of an employee in respect of any period of current service after March 31, 2000, an amount equal to 2.14 times the amount of contributions required to be paid by the employee, unless the employee contributes in respect of such period an amount equal to twice the amount the employee would have been required to pay under section 5 of the Act;
(d) in the case of contributions of an employee in respect of any period of elective service specified in paragraph 6(1)(b) of the Act for which an election is made after March 31, 2000, an amount equal to 2.14 times the amount of contributions and interest required to be paid by the employee, unless the employee, in respect of such period, is required to contribute an amount equal to twice the amount that would have been required to be paid by the employee in respect of a similar period of current service; and
(e) in the case of contributions of an employee referred to in paragraphs (c) or (d) who is required to contribute twice the amount the employee would otherwise have been required to contribute in respect of a period of current service or elective service, an amount equal to 0.56 times the amount of contributions and interest required to be paid by the employee in respect of the periods of service referred to in those paragraphs.
2. Schedule I to the Regulations is replaced by the following:
SCHEDULE I
(Section 9)
Atlantic Pilotage Authority
Administration de pilotage de l'Atlantique
Atomic Energy of Canada Limited
Énergie atomique du Canada, Limitée
Canada Council
Conseil des Arts du Canada
Canada Deposit Insurance Corporation
Société d'assurance-dépôts du Canada
Canada Ports Corporation
Société canadienne des ports
Canada Post Corporation
Société canadienne des postes
Canadian Commercial Corporation
Corporation commerciale canadienne
Canadian Council of Ministers of the Environment
Conseil canadien des ministres de l'environnement
Canadian Dairy Commission
Commission canadienne du lait
Canadian Film Development Corporation
Société de développement de l'industrie cinématographique
canadienne
Canadian International Grains Institute
Institut international du Canada pour le grain
Canadian Museum of Civilization
Musée canadien des civilisations
Canadian Museum of Nature
Musée canadien de la nature
Canadian Wheat Board
Commission canadienne du blé
Cape Breton Development Corporation
Société de développement du Cap-Breton
Defence Construction (1951) Limited
Construction de défense (1951) Limitée
Enterprise Cape Breton Corporation
Société d'expansion du Cap-Breton
Export Development Corporation
Société pour l'expansion des exportations
Farm Credit Corporation
Société du crédit agricole
Freshwater Fish Marketing Corporation
Office de commercialisation du poisson d'eau douce
Government of the Northwest Territories
Gouvernement des Territoires du Nord-Ouest
Government of Nunavut
Gouvernement du Nunavut
Government of the Yukon Territory
Gouvernement du territoire du Yukon
Great Lakes Pilotage Authority
Administration de pilotage des Grands Lacs
Heritage Canada
Société Héritage Canada
International Centre for Human Rights and Democratic Development
Centre international des droits de la personne et du développement
démocratique
International Development Research Centre
Centre de recherches pour le développement international
Laurentian Pilotage Authority
Administration de pilotage des Laurentides
National Arts Centre Corporation
Société du Centre national des Arts
National Capital Commission
Commission de la capitale nationale
National Gallery of Canada
Musée des beaux-arts du Canada
National Museum of Science and Technology
Musée national des sciences et de la technologie
Pacific Pilotage Authority
Administration de pilotage du Pacifique
Parliamentary Centre
Le Centre parlementaire
Royal Canadian Mint
Monnaie royale canadienne
Standards Council of Canada
Conseil canadien des normes
The Jacques-Cartier and Champlain Bridges Inc.
Les Ponts Jacques-Cartier et Champlain Inc.
The Seaway International Bridge Corporation, Ltd.
La Corporation du Pont international de la voie maritime,
Ltée
COMING INTO FORCE
3. These Regulations come into force on April 1, 2000.
REGULATORY IMPACT ANALYSIS STATEMENT
(This statement is not part of the Regulations.)
Description
Amendments to the Public Service Superannuation Regulations are required in order to modify the rules for the calculation of amounts to be paid by certain Public Service corporations and other corporations with respect to pension contributions by their employees under the Public Service Superannuation Act (the Act). In addition, Schedule I of the Regulations requires updating to clarify which corporations are to be subject to these rules. In the past, affected corporations have matched pension contributions paid by their employees under the Act. The cost of funding the retirement benefits for employees under the Act has actually been somewhat higher than the matching contributions that have been paid by these organisations. To bring contributions of affected corporations in line with actual costs of providing pension benefits to employees, a new contribution rate for Public Service corporations and other corporations is required.
Alternatives
There is no alternative to use of the regulatory route.
Anticipated Impact
The application of these Regulations is limited to those Public Service corporations and other corporations specified in Schedule I of the Regulations.
Consultation
Discussions and consultations were held with Public Service corporations and other organizations to be affected by these Regulations.
Compliance and Enforcement
The normal legislative, regulatory and administrative compliance structures will apply, including internal audits, the usual reports to Parliament and responses to enquiries received from Members of Parliament, organizations and their representatives.
Contact
Joan M. Arnold
Director
Pensions Legislation Development Group
Pensions Division
Treasury Board Secretariat
Ottawa, Ontario
K1A 0R5
Tel.: (613) 952-3119
S.C. 1999, c. 34, s. 84
S.C. 1992, c. 46, s. 21(6)
SOR/93-450
C.R.C., c. 1358; SOR/93-450
NOTICE:
The format of the electronic version of this issue of the Canada Gazette was modified in order to be compatible with extensible hypertext markup language (XHTML 1.0 Strict).
