Bill C-270
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SUMMARY |
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The purpose of this enactment is to reduce the pensions payable to
members of Parliament to the same level as paid to members of the
Public Service.
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The present provision under the Members of Parliament Retiring
Allowances Act is discontinued as from December 31, 2001. All
allowances in respect of retirement cease to be applicable on that date,
including the withdrawal allowance, which used to be available to
members who had insufficient service for a pension. As from January
1, 2002, members of Parliament will get the same pension as the Public
Service, under the Public Service Superannuation Act.
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To effect a proper transition, service before 2002 that was
insufficient to qualify a member for a pension may be counted as service
under the Public Service Superannuation Act.
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To deal with matters of detail in the transition, the President of the
Treasury Board is empowered to make regulations.
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The non-accountable, tax free expense allowance that members of
the House of Commons receive will be discontinued from January 1,
2002, and the amount added to members' basic sessional allowance as
taxable income.
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