Bill C-421
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| R.S., c. 13
(2nd Supp.)
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PUBLIC PENSIONS REPORTING ACT |
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21. The definition ``Chief Actuary'' in
section 2 of the Public Pensions Reporting
Act is replaced by the following:
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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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22. The portion of subsection 3(1) of the
Act before paragraph (a) is replaced by the
following:
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| Pension Plan
Review
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3. (1) The Chief Actuary shall conduct
actuarial reviews, in accordance with this
section, of the pension plans established under
the following Acts:
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23. Section 4 of the Act is replaced by the
following:
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| Where plan is
amended
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4. Where an amendment is made to a
pension plan referred to in subsection 3(1) and
the amendment affects the cost of benefits or
creates an initial unfunded liability, the Chief
Actuary shall conduct an actuarial review of
the plan as of the effective date of the
amendment.
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24. Subsection 6(2) of the Act is replaced
by the following:
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| Contents of
valuation
report
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(2) A valuation report filed pursuant to this
section shall be prepared in a manner
consistent with the guides and
Recommendations for the preparation of an
actuarial report in connection with a pension
plan, published by the Canadian Institute of
Actuaries, and may include such additional
information as the Minister may from time to
time require and that the Chief Actuary deems
relevant .
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25. Subsection 8(1) of the Act is replaced
by the following:
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| Assets report
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8. (1) The Chief Actuary shall make a
certification of the assets of a pension plan
established under the Canadian Forces
Superannuation Act, the Members of
Parliament Retiring Allowances Act, the
Public Service Superannuation Act, the Royal
Canadian Mounted Police Superannuation
Act and the Supplementary Retirement
Benefits Act and file a report thereof with the
Minister. The report shall be filed at the same
time as a cost certificate is filed pursuant to
subsection 5(1).
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26. Section 9 of the Act is replaced by the
following:
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| Report laid
before
Parliament
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9. The Chief Actuary shall submit to the
Speaker of the House of Commons any cost
certificate, valuation report or assets report
filed with the Minister pursuant to this Act not
later than five days after it is filed and the
Speaker shall table each such certificate or
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 certificate or
report to be published in the Canada Gazette.
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