Bill C-78
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Annual Report |
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Annual report
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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.
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PART I.1 |
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PROVISIONS THAT APPLY TO CANADA POST CORPORATION |
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Definitions
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46.1 The definitions in this section apply in
this Part.
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``Corporation'
' « Société »
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``Corporation'' means the Canada Post
Corporation within the meaning of the
Canada Post Corporation Act.
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``member'' « membre »
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``member'' means a person to whom the plans
referred to in section 46.3 or 46.4 apply.
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Deemed
deletion
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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.
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Establishment
of pension
plans
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46.3 (1) Subject to subsections (2) and (3),
the Corporation shall
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Approval of
plans
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(2) A plan that has been established under
subsection (1) may only take effect after it has
been approved by the Treasury Board.
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Criteria
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(3) The Treasury Board shall approve a plan
when it is satisfied that
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No benefits
except under
the plans
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(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.
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No liability
for matters
arising before
effective date
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(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.
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Transfer of
accrued
benefits
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(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).
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Pension plans
not to affect
accrued
benefits
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(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.
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Establishment
of group life
insurance plan
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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.
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Benefits, etc.,
equal to
public service
regime
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(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.
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Benefits to
former
employees
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(3) A person has the same rights as a
member under subsection (2) if
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No alteration
of plans
before
October 1,
2001
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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.
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Alteration of
plans
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(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.
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No longer a
participant
under Part II
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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.
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1992, c. 46,
s. 25(1)
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98. (1) The definition ``basic benefit'' in
subsection 47(1) of the Act is replaced by the
following:
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``basic
benefit'' « prestation de base »
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``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
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1992, c. 46,
s. 25(2)
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(2) Paragraphs (a) to (d) of the definition
``participant'' in subsection 47(1) of the Act
are replaced by the following:
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(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):
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(4) Subsection 47(1) of the Act is amended
by adding the following in alphabetical
order:
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``immediate
annual
allowance'' « allocation annuelle immédiate »
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``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;
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99. The Act is amended by adding the
following after section 47:
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Application
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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.
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Salary
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(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.
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Deemed
election
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(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).
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Deemed
designation
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(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.
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100. Sections 49 and 50 of the Act are
replaced by the following:
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Apportionme
nt
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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.
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Service to be
counted
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50. For the purposes of sections 51 and 53,
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101. Paragraph 51(2)(b) of the Act is
replaced by the following:
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1992, c. 46,
s. 26
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102. (1) Subsections 52(1) and (2) of the
Act are replaced by the following:
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Elections to
reduce
benefits
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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.
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Transitional
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(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.
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Transitional
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(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.
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Transitional
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(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).
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1992, c. 46,
s. 26
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(2) Subsection 52(3) of the English
version of the Act is replaced by the
following:
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Election
irrevocable
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(3) An election made under this section is
irrevocable.
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