Bill C-78
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Royal Canadian Mounted Police Pension Fund |
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| Establishment
of Royal
Canadian
Mounted
Police
Pension Fund
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29.2 (1) The Royal Canadian Mounted
Police Pension Fund is established.
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| Amounts to
be deposited
into Royal
Canadian
Mounted
Police
Pension Fund
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(2) The following amounts shall be
deposited into the Royal Canadian Mounted
Police Pension Fund:
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| Amounts to
be determined
by the
President of
the Treasury
Board
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(3) There shall be deposited into the Royal
Canadian Mounted Police Pension Fund, in
each fiscal year, in respect of every month, no
later than thirty days after the end of the month
in respect of which the deposit is made
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| Determination
of the
amounts
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(4) In determining amounts for the purposes
of paragraph (3)(a), the President of the
Treasury Board may take into account any
surplus in the Royal Canadian Mounted Police
Pension Fund as shown in the most recent
actuarial valuation report referred to in section
30 on the state of the Fund.
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| Transfer of
amounts
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(5) The amounts deposited in the Royal
Canadian Mounted Police Pension Fund shall
be transferred to the Public Sector Pension
Investment Board within the meaning of the
Public Sector Pension Investment Board Act
to be dealt with in accordance with that Act.
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| Payment of
benefits
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(6) All amounts required for the payment of
benefits for which this Part and Part III make
provision shall be charged to the Royal
Canadian Mounted Police Pension Fund and
paid out of the assets of the Public Sector
Pension Investment Board if the benefits are
payable in respect of pensionable service that
comes to the credit of a contributor on or after
April 1, 2000.
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| Amounts to
be paid on
basis of
actuarial
valuation
report
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29.3 (1) Following the laying before
Parliament of any actuarial valuation report
pursuant to section 30 that relates to the state
of the Royal Canadian Mounted Police
Pension Fund, there shall be paid into the
Fund, at the time and in the manner set out in
subsection (2), the amount that in the opinion
of the President of the Treasury Board will, at
the end of the fifteenth fiscal year following
the tabling of that report or at the end of the
shorter period that the President of the
Treasury Board may determine, together with
the amount that the President of the Treasury
Board estimates will be to the credit of the
Fund at that time, meet the cost of the benefits
payable under this Part and Part III in respect
of pensionable service that comes to the credit
of contributors on or after April 1, 2000.
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| Equal annual
instalments
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(2) Subject to subsection (3), the amount
required to be paid into the Royal Canadian
Mounted Police Pension Fund under
subsection (1) shall be divided into equal
annual instalments and the instalments shall
be paid to the Royal Canadian Mounted Police
Pension Fund over a period of fifteen years, or
the shorter period that the President of the
Treasury Board may determine, with the first
such instalment to be paid in the fiscal year in
which the actuarial valuation report is laid
before Parliament.
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| Adjustments
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(3) When a subsequent actuarial valuation
report is laid before Parliament before the end
of the period applicable under subsection (2),
the instalments remaining to be paid in that
period may be adjusted to reflect the amount
that is estimated by the President of the
Treasury Board, at the time that subsequent
report is laid before Parliament, to be the
amount that will, together with the amount
that the President of the Treasury Board
estimates will be to the credit of the Fund at the
end of that period, meet the cost of the benefits
payable under this Part and Part III in respect
of pensionable service that comes to the credit
of contributors on or after April 1, 2000.
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| No more
deposits if
non-permitted
surplus
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29.4 (1) If, following the laying before
Parliament of any actuarial valuation report
pursuant to section 30 that relates to the state
of the Royal Canadian Mounted Police
Pension Fund, there is, in the President of the
Treasury Board's opinion, a non-permitted
surplus in that Fund, no further amounts shall
be deposited into the Fund under paragraph
29.2(3)(a) until the time that there is, in the
President of the Treasury Board's opinion, no
longer a non-permitted surplus in the Fund.
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| When
non-permitted
surplus
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(2) If, following the laying before
Parliament of any actuarial valuation report
pursuant to section 30 that relates to the state
of the Royal Canadian Mounted Police
Pension Fund, there is, in the President of the
Treasury Board's opinion, a non-permitted
surplus in that Fund,
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| Recommendat
ion of
President of
the Treasury
Board
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(3) The President of the Treasury Board
shall only make the recommendation referred
to in paragraph (2)(b) after estimating, based
on the report, that the amount that will be to
the credit of the Royal Canadian Mounted
Police Pension Fund at the end of the fifteenth
fiscal year of that report or at the end of the
shorter period that the President of the
Treasury Board may determine, will not be
less than the total of
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| When surplus
is not
non-permitted
surplus
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(4) If, following the laying before
Parliament of an actuarial valuation report
pursuant to section 30 that relates to the state
of the Royal Canadian Mounted Police
Pension Fund, there is, in the opinion of the
President of the Treasury Board, a surplus that
is not a non-permitted surplus in that Fund, the
contributions payable under section 5 or
paragraph 29.2(3)(a) may be reduced in the
manner, at the times and for the period that the
Treasury Board determines, on the
recommendation of the President of the
Treasury Board after consultation with the
Minister.
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| Non-permitte
d surplus
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(5) For the purposes of this section, a
non-permitted surplus exists when the amount
by which assets exceed liabilities in the Royal
Canadian Mounted Police Pension Fund, as
determined by the actuarial valuation report
referred to in section 30 or one requested by
the President of the Treasury Board, is greater
than the lesser of
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| When
reduction in
contributions
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(6) For greater certainty, a reduction in
contributions under paragraph (2)(a) or
subsection (4) is not to be considered as
changing the contribution rate that applied
before the reduction in contributions.
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| Costs
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29.5 The costs of the administration of this
Act, as determined by the Treasury Board on
the recommendation of the Minister, with
respect to benefits payable under this Act in
respect of pensionable service that comes to
the credit of contributors on or after April 1,
2000 shall be paid out of the Royal Canadian
Mounted Police Pension Fund.
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| R.S., c. 13
(2nd Supp.),
s. 13; 1992, c.
46, s. 79
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200. Sections 30 and 31 of the Act are
replaced by the following:
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| Public
Pensions
Reporting Act
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30. 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 Royal Canadian Mounted Police
Superannuation Investment Fund and the
Royal Canadian Mounted Police Pension
Fund shall be prepared, filed with the Minister
designated under that Act and laid before
Parliament.
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Annual Report |
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| Annual report
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31. 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 Royal Canadian Mounted Police
Pension Fund and the Royal Canadian
Mounted Police Superannuation Investment
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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| 1992, c. 46,
s. 80
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201. (1) The definition ``contributor'' in
section 35 of the Act is repealed.
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(2) Paragraph (f) of the definition
``recipient'' in section 35 of the Act is
replaced by the following:
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| 1992, c. 46,
s. 80
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202. Section 36 of the Act is repealed.
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| 1992, c. 46,
s. 80
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203. Subsection 37(1) of the Act is
replaced by the following:
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| Contributions
for elective
service
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37. (1) A person who elects, pursuant to
section 6 or 24, to count as pensionable service
any period of elective service specified in
those sections, or any portion of that service,
that is after March 31, 1970 but before January
1, 2000 is required to contribute to the
Superannuation Account or the Royal
Canadian Mounted Police Pension Fund in
respect of it, in addition to any other amount
required under this Act, an amount calculated
in the manner and in respect of the pay
described in those sections
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| 1992, c. 46,
s. 80
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204. Paragraph 39(3)(b) of the Act is
replaced by the following:
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| 1992, c. 46,
s. 80
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205. Subsection 40(2) of the Act is
repealed.
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| 1992, c. 46,
s. 80
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206. (1) The portion of subsection 41(1) of
the Act before paragraph (a) is replaced by
the following:
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| Regulations
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41. (1) The Governor in Council may, for
the purpose of enabling the pension plan
provided by this Act to conform with any
provision of section 147.1 of the Income Tax
Act and Part LXXXV of the Income Tax
Regulations, make regulations
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(2) Section 41 of the Act is amended by
adding the following after subsection (5):
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| Powers of
Treasury
Board
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(6) The Treasury Board may, in addition to
the powers conferred on it by paragraph
7(2)(d) of the Financial Administration Act,
exercise the powers of the Governor in
Council under this section.
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AMENDMENTS TO OTHER ACTS |
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| R.S.C. 1970,
c. D-3;
1974-75-76,
c. 81;
1976-77, c.
28;
1980-81-82-8
3, c. 100;
1989, c. 6;
1992, c. 46;
1995, c. 18
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Defence Services Pension Continuation Act |
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207. (1) Subsection 2(1) of the Defence
Services Pension Continuation Act is
amended by adding the following in
alphabetical order:
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| ``child'' « enfant »
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``child'' means a child or stepchild of - or an
individual adopted either legally or in fact
by - an officer who at the time of the
officer's death was dependent on the officer
for support;
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| ``survivor'' « survivant »
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``survivor'', in relation to an officer, means
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(2) Subsection 2(2) of the Act is repealed.
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208. Subsections 10(3) and (4) of the Act
are replaced by the following:
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| Gratuity in
case of death
before
pension
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(3) When an officer dies before a period at
which a pension might be granted him, the
Governor in Council may grant to his survivor,
or, if he leaves no survivor, to his children
under eighteen years of age at the date of his
death a gratuity equal to the amount of the
deductions made under subsection 9(1) from
the officer's pay during his service.
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| If no survivor
or child
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(4) When an officer dies leaving no survivor
or child to whom a gratuity under subsection
(3) or a pension or compassionate allowance
under this Act would be payable, but who
leaves a father, mother, brother, sister or child
who, at the date of the officer's death was
wholly or partially dependent on him for
support, the Governor in Council may grant to
the person or persons so dependent a gratuity
not exceeding in the aggregate the amount of
the deductions made under subsection 9(1)
from the officer's pay during his service.
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| 1974-75-76,
c. 81, s. 50
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209. Section 25 of the Act and the heading
before it are replaced by the following:
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