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Bill C-78

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R.S., c. 13 (2nd Supp.), s. 12; 1992, c. 46, s. 24	97. Sections 45 and 46 of the Act are replaced by the following:
Public Pensions Reporting Act	45. In accordance with the Public Pensions Reporting Act, a cost certificate, an actuarial valuation report and an assets report on the state of each of the Superannuation Account, the Public Service Superannuation Investment Fund and the Public Service Pension Fund shall be prepared, filed with the Minister designated under that Act and laid before Parliament.
	Annual Report
Annual report	46. The Minister shall cause to be laid before each House of Parliament each year a report on the administration of this Part and Part III during the preceding fiscal year, including a statement showing the amounts paid into and out of the Superannuation Account, the Public Service Superannuation Investment Fund and the Public Service Pension Fund during that year, by appropriate classifications, the number of contributors and the number of persons receiving benefits under this Part and Part III, together with the additional information that the Governor in Council may by regulation require.
	PART I.1
	PROVISIONS THAT APPLY TO CANADA POST CORPORATION
Definitions	46.1 The definitions in this section apply in this Part.
``Corporation' ' « Société »	``Corporation'' means the Canada Post Corporation within the meaning of the Canada Post Corporation Act.
``member'' « membre »	``member'' means a person to whom the plans referred to in section 46.3 or 46.4 apply.
Deemed deletion	46.2 The repeal of subsection 13(2) of the Canada Post Corporation Act by section 227 of the Public Sector Pension Investment Board Act is deemed to constitute a deletion from Schedule I of the Corporation, within the meaning of subsection 42(4), on the day on which that section comes into force.
Establish- ment of pension plans	46.3 (1) Subject to subsections (2) and (3), the Corporation shall
	(a) establish no fewer than one pension plan for the Chairman, President, officers and employees of the Corporation, or classes of those persons, no later than October 1, 2000, and be the administrator of those plans; and
	(b) establish no fewer than one supplementary pension plan in the nature of a retirement compensation arrangement within the meaning of the Special Retirement Arrangements Act for those persons or classes no later than October 1, 2000, and be the administrator of those plans.
Approval of plans	(2) A plan that has been established under subsection (1) may only take effect after it has been approved by the Treasury Board.
Criteria	(3) The Treasury Board shall approve a plan when it is satisfied that
	(a) each plan referred to in paragraph (1)(a) meets the requirements for registration under the Income Tax Act and the Pension Benefits Standards Act, 1985;
	(b) when the plans referred to in paragraphs (1)(a) and (b) are established,
	(i) each member and survivor will be provided with pension benefits and lump-sum benefits - including supplementary benefits within the meaning of Part III - at least equal to those provided for him or her under this Act and the Retirement Compensation Arrangements Regulations, No. 1, made under the authority of the Special Retirement Arrangements Act, as those Acts and regulations read on the day before the effective date of the plans, and
	(ii) each member will be required to contribute, by reservation from salary or otherwise,
	(A) for the period beginning on the effective date of the plans and ending on December 31, 2003, at a rate equal to the rates specified in this Act on the day before that effective date, and
	(B) for the period beginning on January 1, 2004, at the rate that the Board of Directors of the Corporation may fix from time to time, that Board being subject to the same restrictions in fixing the rate as is the Treasury Board under subsection 5(1.4);
	(c) each plan referred to in paragraph (1)(a) provides that
	(i) members who are employed by the Corporation on the effective date of the plans may elect to count, as pensionable service, service with the Corporation and the Post Office Department before that date that was not to their credit as pensionable service under this Act on the day before that date, and
	(ii) members who become employed by the Corporation after the effective date of the plans may elect to count, as pensionable service, service with the Corporation or the Post Office Department;
	(d) each plan referred to in paragraph (1)(a) includes a provision whereby pension transfer agreements within the meaning of this Act could be entered into between the Corporation and the President of the Treasury Board under subsection 40.2(2);
	(e) when the plans referred to in paragraphs (1)(a) and (b) are established and at any time after that, each member and each survivor shall be placed in a situation at least as favourable as the one in which he or she would have been if the repeal referred to in section 46.2 had not occurred, with respect to the pension benefits and lump-sum benefits
	(i) to which he or she is or may become entitled under this Act and the regulations referred to in subparagraph (b)(i) as they read on the day before the effective date of the plans, and
	(ii) in respect of periods of pensionable service within the meaning of this Act that were to the credit of the member before that date;
	(f) when the plans referred to in paragraphs (1)(a) and (b) are established or at any time after that, the plans provide that the Corporation may decide to use any surplus amounts that are in the plans after a transfer under subsection (6) for benefit improvements or for reductions in the contributions made by the members or the Corporation; and
	(g) when the plans referred to in paragraphs (1)(a) and (b) are established, the Corporation has informed all the employees and representatives of employees of the changes that the plans would make to their pension arrangements and given them the opportunity to make their views and interests known with respect to the changes.
No benefits except under the plans	(4) On and after the effective date of the plans referred to in paragraphs (1)(a) or (b), no member or member's survivor is entitled to any benefit under this Act or the regulations referred to in subparagraph (3)(b)(i), except benefits under the plans.
No liability for matters arising before effective date	(5) The Corporation is not liable with respect to any matter attributable to a period that ended before the effective date of the plans, other than in respect of obligations set out in this Act.
Transfer of accrued benefits	(6) Notwithstanding any other provision of this Act, the value of benefits that have accrued to the members who are contributors under this Act on the day before the effective date of the plans, calculated in accordance with this Act and the regulations referred to in subparagraph (3)(b)(i), shall be transferred to the plans in accordance with any regulations made under paragraph 42.1(1)(v.7).
Pension plans not to affect accrued benefits	(7) The provisions of the pension plans referred to in this section respecting the benefits that had accrued to a member under this Act before the effective date of the plans shall not be the subject of collective bargaining under Part I of the Canada Labour Code and shall not be altered in a way that would reduce those benefits.
Establish- ment of group life insurance plan	46.4 (1) The Corporation shall, no later than the date referred to in subsection 46.3(1), establish no fewer than one group life insurance plan for persons referred to in that subsection.
Benefits, etc., equal to public service regime	(2) The plans must provide for benefits for the members and their beneficiaries at least equal to those provided under Part II, as it read on the day before the effective date of the plans, at a contribution rate no greater than the contribution rate under that Part as it read on that day.
Benefits to former employees	(3) A person has the same rights as a member under subsection (2) if
	(a) he or she ceases to be employed by the Corporation after the effective date of the plans; and
	(b) at the time he or she ceases to be so employed, he or she has an entitlement to an immediate pension benefit, other than a lump-sum benefit, under a plan referred to in subsection 46.3(1).
No alteration of plans before October 1, 2001	46.5 (1) The terms of the plans referred to in sections 46.3 and 46.4 shall not be the subject of collective bargaining - and shall not be modified with respect to employees not represented by a bargaining agent within the meaning of Part I of the Canada Labour Code - for any period that ends before October 1, 2001.
Alteration of plans	(2) The provisions of the plans referred to in subsection (1), other than those referred to in subsection 46.3(7), may be the subject of collective bargaining if notice to bargain collectively is given within the meaning of section 49 of that Act on or after October 1, 2001.
No longer a participant under Part II	46.6 Notwithstanding section 51, a person ceases to be a participant for the purposes of Part II on the day on which section 227 of the Public Sector Pension Investment Board Act comes into force.
1992, c. 46, s. 25(1)	98. (1) The definition ``basic benefit'' in subsection 47(1) of the Act is replaced by the following:
``basic benefit'' « prestation de base »	``basic benefit'', with respect to a participant, means an amount equal to twice the salary of the participant, if that amount is a multiple of one thousand dollars, or an amount equal to the nearest multiple of one thousand dollars above twice the salary of the participant, if the first-mentioned amount is not a multiple of one thousand dollars, subject to a reduction of ten per cent, to be made as of the time that the regulations prescribe, for every year of age in excess of sixty-five attained by the participant, except that
	(a) in the case of a participant who is employed in the Public Service, the basic benefit shall not be less than
	(i) an amount equal to one third of the participant's salary, if that one-third is a multiple of one thousand dollars, or an amount equal to the nearest multiple of one thousand dollars above one third of the participant's salary, if that one-third is not a multiple of one thousand dollars, or
	(ii) ten thousand dollars,
	whichever is the greater,
	(b) subject to paragraphs (c) and (d) , in the case of an elective participant who, on ceasing to be employed in the Public Service, on ceasing to be a member of the regular force or on ceasing to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1 , was entitled to an immediate annuity, or an immediate annual allowance , the basic benefit shall not be less than ten thousand dollars,
	(c) in the case of an elective participant who makes an election under subsection 52(2), the basic benefit shall be five hundred dollars,
	(d) in the case of an elective participant who makes an election under subsection 52(2.1), the basic benefit shall be five thousand dollars, and
	(e) in the case of an elective participant who makes an election under subsection 52(2.2), the basic benefit shall be subject to a reduction of ten per cent, to be made as of the time that the regulations prescribe, for every year of age in excess of sixty attained by the participant.
1992, c. 46, s. 25(2)	(2) Paragraphs (a) to (d) of the definition ``participant'' in subsection 47(1) of the Act are replaced by the following:
	(a) a person who is required by section 5 to contribute to the Superannuation Account or the Public Service Pension Fund ,
	(b) an employee of a Crown corporation who is required to contribute to the Superannuation Account or the Public Service Pension Fund in respect of current service,
	(b.1) a person who is required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1 ,
	(c) a person not coming within paragraphs (a) to (b.1) who has made an election under section 51 and continues to contribute under this Part,
	(d) a person not coming within paragraph (a), (b), (b.1) or (c) who has made an election under section 51 and to whom the basic benefit of ten thousand dollars referred to in paragraph (b) of the definition ``basic benefit'' in this subsection, or to whom the basic benefit of five hundred dollars referred to in paragraph (c) of that definition - or to whom the basic benefit of five thousand dollars referred to in paragraph (d) of that definition - applies without contribution under this Part by the participant for it ,
	(3) The definition ``salary'' in subsection 47(1) of the Act is amended by striking out the word ``and'' at the end of paragraph (a), by adding the word ``and'' at the end of paragraph (b) and by adding the following after paragraph (b):
	(c) in the case of a participant who is required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1, the salary referred to in subsections 8(3) or 9(1) of those Regulations.
	(4) Subsection 47(1) of the Act is amended by adding the following in alphabetical order:
``immediate annual allowance'' « allocation annuelle immédiate »	``immediate annual allowance'' means an annual allowance payable within thirty days after the day on which a participant ceases to be employed in the Public Service after March 31, 1995, or ceases to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1;
	99. The Act is amended by adding the following after section 47:
Application	47.1 (1) A person who, immediately before the date on which this subsection comes into force, was contributing under Division II of Part I of the Retirement Compensation Arrangements Regulations, No. 1 and had elected under that Division to continue to contribute is an elective participant for the purposes of this Part.
Salary	(2) For the purposes of this Part, the salary of a participant described in subsection (1) is the participant's salary under Division I of Part I of those Regulations in effect at the end of the period during which he or she was required to contribute under that Division.
Deemed election	(3) An election by a participant under subsection 27(1) of those Regulations before the date on which this subsection comes into force is deemed to be an election under subsection 52(1).
Deemed designation	(4) A designation made by a participant under subsection 23(1) of those Regulations before the date on which this subsection comes into force is deemed to be a designation under section 26 of the Supplementary Death Benefit Regulations.
	100. Sections 49 and 50 of the Act are replaced by the following:
Apportion- ment	49. If a benefit payable under Part I is apportioned between two survivors under subsection 25(2) or (10) , the benefit payable to a person referred to in subsection 55(2) is apportioned in the same manner .
Service to be counted	50. For the purposes of sections 51 and 53,
	(a) in calculating the period during which a person has been employed in the Public Service, any service of that person as a member of the regular force, or the period during which the person was required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1 , shall be deemed to be employment in the Public Service; and
	(b) in calculating the period during which a person has been a participant under this Part, any period during which that person was a regular force participant under this Part prior to August 1, 1966 or under Part II of the Canadian Forces Superannuation Act, or was contributing under Division II of Part I of the Retirement Compensation Arrangements Regulations, No. 1 , shall be included.
	101. Paragraph 51(2)(b) of the Act is replaced by the following:
	(b) may, within that period of thirty days, elect to continue to be a participant under this Part after the expiry of that period, and shall, if on ceasing to be so employed, or on ceasing to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1 , he or she is entitled to an immediate annuity or an immediate annual allowance - or to an immediate benefit or an immediate allowance under Part I of those regulations - be deemed so to have elected within that period to continue to be a participant under this Part after the expiry of that period.
1992, c. 46, s. 26	102. (1) Subsections 52(1) and (2) of the Act are replaced by the following:
Elections to reduce benefits	52. (1) If the basic benefit of an elective participant who, on ceasing to be employed in the Public Service, or on ceasing to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1 , was entitled to an immediate annuity or an immediate annual allowance - or to an immediate benefit or an immediate allowance under Part I of those regulations - exceeds ten thousand dollars, the amount of the basic benefit shall, if the participant so elects, be reduced to ten thousand dollars.
Transitional	(2) An elective participant who has made an election under section 52 of this Act as it read from time to time before October 5, 1992 is, beginning on that day, deemed to have elected to reduce the basic benefit of the participant to five thousand dollars unless, within one year after that day, the participant elects not to be deemed to have so elected.
Transitional	(2.1) An elective participant who has made an election under section 52 of this Act as it read from time to time before the day on which this subsection comes into force is, beginning on that day, deemed to have elected to reduce his or her basic benefit to ten thousand dollars unless, within one year after that day, the participant elects not to be deemed to have so elected.
Transitional	(2.2) An elective participant who has attained the age of sixty years on April 1, 1999 may elect, within one year after the day on which this subsection comes into force, to have his or her basic benefit determined in accordance with paragraph (e) of the definition ``basic benefit'' in subsection 47(1).

Bill C-78

Annual Report

PART I.1

PROVISIONS THAT APPLY TO CANADA POST CORPORATION