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2nd Session, 37th Parliament, 51-52 Elizabeth II, 2002-2003
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House of Commons of Canada
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BILL C-421 |
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An Act respecting the establishment of the
Office of the Chief Actuary of Canada
and to amend other Acts in consequence
thereof
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SHORT TITLE |
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| Short title
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1. This Act may be cited as the Chief
Actuary Act.
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INTERPRETATION |
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| Definitions
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2. The definitions in this section apply in
this Act.
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| ``Chief
Actuary'' « actuaire en chef »
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``Chief Actuary'' means the Chief Actuary of
Canada appointed under subsection 4(1).
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| ``prescribed'' « version anglaise seulement »
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``prescribed'' means prescribed by
regulations made under this Act.
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PURPOSE OF ACT |
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| Purpose
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3. The purpose of this Act is to provide for
an independent Chief Actuary of Canada who
will report directly to the House of Commons
on the activities of his or her office.
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CHIEF ACTUARY OF CANADA |
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| Appointment
of Chief
Actuary
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4. (1) Subject to subsection (4), the
Governor in Council shall, by commission
under the Great Seal, appoint a qualified
actuary to be the officer called the Chief
Actuary of Canada after approval of the
appointment by a resolution of the Senate and
House of Commons.
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| Tenure of
office and
removal
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(2) The Chief Actuary holds office during
good behaviour for a term of ten years but may
be removed by the Governor in Council at any
time on address of the Senate and House of
Commons.
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| Re-appoint- ment
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(3) The Chief Actuary is, on the expiration
of a first or subsequent term of office, eligible
to be re-appointed for a further term not
exceeding ten years.
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| Absence or
incapacity
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(4) In the event of the absence or incapacity
of the Chief Actuary or if the office is vacant,
the Governor in Council may appoint another
qualified person to hold office instead of the
Chief Actuary for a term not exceeding six
months and that person shall, while holding
office, have all the powers, duties and
functions of the Chief Actuary set out in
section 7 and shall be paid such salary as may
be fixed by the Governor in Council.
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| Salary
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5. (1) The Chief Actuary shall be paid a
salary equal to the salary of a puisne judge of
the Supreme Court of Canada.
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| Pension
benefits
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(2) The provisions of the Public Service
Superannuation Act, other than those relating
to tenure of office, apply to the Chief Actuary,
except that a person appointed as Chief
Actuary from outside the Public Service may,
by notice in writing given to the President of
the Treasury Board not more than sixty days
after the date of the appointment, elect to
participate in the pension plan provided for in
the Diplomatic Service (Special)
Superannuation Act, in which case the
provisions of that Act, other than those
relating to tenure of office, apply to the Chief
Actuary and the provisions of the Public
Service Superannuation Act do not apply.
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| Limitation
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6. The Chief Actuary shall not hold any
other office under Her Majesty in right of
Canada or a province or engage in any other
employment for reward.
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POWERS, DUTIES AND FUNCTIONS OF CHIEF ACTUARY |
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| Powers, duties
and functions
of Chief
Actuary
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7. The Chief Actuary has the powers, duties
and functions assigned to the Chief Actuary by
this Act or any other Act of Parliament.
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| Duty to
provide
advice etc.
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8. (1) The Chief Actuary shall provide such
advice, opinion, analysis or recommendation
in respect of any prescribed social insurance
program or public pension plan established by
an Act of Parliament as is requested by
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| Provision of
actuarial
services
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(2) The Chief Actuary may provide
actuarial services to any person or body other
than a person or body referred to in subsection
(1) in return for a fee which shall be
determined by the Chief Actuary.
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| Annual report
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9. (1) The Chief Actuary shall report
annually to the House of Commons on
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| Annual and
additional
reports
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(2) Each annual report referred to in
subsection (1) shall call attention to anything
that the Chief Actuary considers to be of
significance and of a nature that should be
brought to the attention of the House of
Commons.
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| Submission of
annual report
to Speaker
and tabling of
report
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(3) Each annual report referred to in
subsection (1) shall be submitted by the Chief
Actuary to the Speaker of the House of
Commons not later than two months after
December 31 of the year to which the report
relates and the Speaker shall table each such
report in the House of Commons on the day it
is received if the House is sitting, or if the
House is not sitting, the Speaker shall table the
report with the clerk of the House of
Commons unless the House is not sitting
because it is dissolved, in which case the
Speaker shall cause a copy of the report to be
published in the Canada Gazette.
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| Special report
to the House
of Commons
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10. (1) The Chief Actuary may make a
special report to the House of Commons on
any matter of pressing importance or urgency
that, in the opinion of the Chief Actuary,
should not be deferred until the presentation of
the next report under subsection 9(1).
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| Submission of
reports to
Speaker and
tabling of
reports
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(2) Each special report made to the House
of Commons under subsection (1) or 15(2)
shall be submitted by the Chief Actuary to the
Speaker of the House of Commons and the
Speaker shall table each such report in the
House of Commons on the day it is received
if the House is sitting, or if the House is not
sitting , the Speaker shall table the report with
the clerk of the House of Commons unless the
House is not sitting because it is dissolved, in
which case the Speaker shall cause a copy of
the report to be published in the Canada
Gazette.
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ACCESS TO INFORMATION BY THE CHIEF ACTUARY |
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| Access to
information
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11. (1) Except as provided by any other Act
of Parliament that expressly refers to this
subsection, the Chief Actuary is entitled to
free access at all convenient times to
information that relates to the fulfillment of
the Chief Actuary's responsibilities and the
Chief Actuary is entitled to require and
receive from members of the public service of
Canada such information, reports and
explanations as the Chief Actuary deems
necessary for that purpose.
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| Stationing of
officers in
departments
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(2) The Chief Actuary may, in order to carry
out the duties of the Chief Actuary more
effectively, station in any department any
person employed in the office of the Chief
Actuary and the department shall provide the
necessary office accomodation for any person
so stationed.
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| Oath of
secrecy
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(3) The Chief Actuary shall require every
person employed in the office of the Chief
Actuary who is to have access to any
information that relates to the fulfillment of
the responsibilities of the Chief Actuary to
comply with any security requirements
applicable to, and take any oath of secrecy
required to be taken by persons who normally
have access to that information.
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STAFF OF THE CHIEF ACTUARY |
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| Officers etc.
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12. (1) Such officers and employees as are
necessary to enable the Chief Actuary to
perform the duties of the Chief Actuary shall
be appointed in accordance with the Public
Service Employment Act.
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| Delegation to
Chief Actuary
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(2) The Chief Actuary may exercise and
perform, in such manner and subject to such
terms and conditions as the Public Service
Commission directs, the powers, duties and
functions of the Public Service Commission
under the Public Service Employment Act,
other than the powers, duties and functions of
the Commission in relation to appeals under
section 21 of that Act and inquiries under
section 34 of that Act.
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| Suspension
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(3) The Chief Actuary may suspend from
the performance of his or her duty any person
employed in the office of the Chief Actuary.
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| Responsibi- lity for personnel management
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13. In respect of the persons employed in
the office of the Chief Actuary, the Chief
Actuary is authorized to exercise the powers
and perform the duties and functions of the
Treasury Board under the Financial
Administration Act that relate to personnel
management including the determination of
terms and conditions of employment and the
responsibility for employer and employee
relations, within the meaning of paragraph
7(1)(e) and sections 11 to 13 of that Act.
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| Delegation
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14. The Chief Actuary may designate a
senior member of the Chief Actuary's staff to
sign on behalf of the Chief Actuary any
advice, opinion, analysis or recommendation
the Chief Actuary is required to give under this
Act or any other Act of Parliament and any
report the Chief Actuary is required to submit
to the Speaker of the House of Commons
under this Act or any other Act of Parliament,
and any member so signing that advice,
opinion, analysis or report shall indicate
beneath his or her signature his or her position
in the office of the Chief Actuary and the fact
that he or she is signing on behalf of the Chief
Actuary.
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ESTIMATES |
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| Estimates
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15. (1) The Chief Actuary shall annually
prepare an estimate of the sums that will be
required to be provided by Parliament for the
payment of the salaries, allowances and
expenses of the Chief Actuary's office during
the next ensuing fiscal year.
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| Special report
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(2) The Chief Actuary may make a special
report to the House of Commons in the event
that amounts provided for the office of the
Chief Actuary in the estimates submitted to
Parliament are, in the Chief Actuary's
opinion, inadequate to enable the Chief
Actuary to fulfill the responsibilities of the
office of the Chief Actuary.
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| Appropria- tion allotments
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16. The provisions of the Financial
Administration Act with respect to the division
of appropriations into allotments do not apply
in respect of appropriations for the office of
the Chief Actuary.
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REGULATIONS |
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| Regulations
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17. The Governor in Council may make
regulations
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CONSEQUENTIAL AMENDMENTS |
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| R.S., c. C-8
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Canada Pension Plan |
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18. Subsection 2(1) of the Canada Pension
Plan is amended by adding the following in
alphabetical order:
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| ``Chief
Actuary'' « actuaire en chef »
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``Chief Actuary'' means the Chief Actuary
appointed under subsection 4(1) of the
Chief Actuary Act or the person appointed
under subsection 4(4) of that Act to hold
office instead of the Chief Actuary;
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19. Subsection 46(3) of the Act is replaced
by the following:
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| Upward or
downward
adjustment
factor
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(3) Subject to subsections (4) to (6), a
retirement pension that becomes payable after
December 31, 1986 commencing with a
month other than the month in which the
contributor reaches sixty-five years of age is
a basic monthly amount equal to the basic
monthly amount calculated in subsection (1)
or (2), as the case may be, adjusted by a factor
fixed by the Minister, on the advice of the
Chief Actuary, to reflect the time interval
between the month in which the retirement
pension commences and the month in which
the contributor reached, or would reach,
sixty-five years of age, but such time interval
shall be deemed never to exceed five years.
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20. (1) Subsection 115(1) of the Act is
replaced by the following:
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| Chief Actuary
to report
every three
years
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115. (1) The Chief Actuary shall, during the
first year of each three year period for which
a review is required by subsection 113.1(1),
prepare a report setting out, as at a date not
earlier than December 31 of the year before
the three year period, the results of an actuarial
examination of the operation of this Act based
on the state of the Canada Pension Plan
Account and the investments of the
Investment Board.
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(2) Subsection 115(2) of the Act is
replaced by the following:
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| Report to be
made by
Chief Actuary
when certain
Bills
introduced
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(2) In addition to any report required under
this section, the Chief Actuary shall,
whenever any Bill is introduced in or
presented to the House of Commons to amend
this Act in a manner that would in the opinion
of the Chief Actuary materially affect any of
the estimates contained in the most recent
report under this section made by the Chief
Actuary, prepare, using the same actuarial
assumptions and basis as were used in that
report, a report setting forth the extent to
which such Bill would, if enacted by
Parliament materially affect any of the
estimates contained in that report.
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(3) Subsection 115(8) of the Act is
replaced by the following:
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| Report to be
tabled in the
House of
Commons
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(8) The Chief Actuary shall, not later than
five days after the completion of any report
under this section, submit the report to the
Speaker of the House of Commons and the
Speaker shall table the report in the House of
Commons on the day it is received if the
House is sitting, or if the House is not sitting,
the Speaker shall table the report with the
clerk of the House of Commons unless the
House is not sitting because it is dissolved, in
which case the Speaker shall cause a copy of
the report to be published in the Canada
Gazette.
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