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Federal Public Service Superannuation Act – 1992

  • RESET

Category:

LEGISLATION

Sub-Category:

Sub-Category: GENERAL

Resolution Number:

600.10.158

Club:

Toronto

Province:

Ontario

Year:

1992

Status:

Archived

Background:

Comments:

THEREFORE BE IT RESOLVED THAT BPW Canada strongly urges the Government of Canada to enact the following amendments to the Federal Public Service Superannuation Act and to implement such amendments wherever possible retroactively and no later than January 1, 1993:1. To provide credit splitting on breakdown of marriage.2. To provide a widowed spouse’s benefit of 60% of the member’s pension.3. The requirement that these amendments are applied throughout the Federal Public Service by amendment to:! The Canadian Forces Superannuation Act,! The Royal Canadian Mounted Police Superannuation Act,! The Members of Parliament Retiring Allowance Act,! The Diplomatic Service Superannuation Act,! The R.C.M.P. Continuation Act, and! The Pension Act (which applied to disabled veterans).FURTHER BE IT RESOLVED THAT BPW Canada commends the Government of Canada for:1. Enacting in the Canadian Pension Benefits Standards Act 1987, many of the recommendations of the Parliamentary Task Force on Pension Reform 1984, which we supported. The major issue still outstanding is protection against inflation; i.e. a mandatory indexing formulae. 2. Amending the Canada Pension Plan to provide for credit splitting between spouses after each has reached the age of 60 years, and automatic credit splitting on confirmation of marriage breakdown.FURTHER BE IT RESOLVED THAT BPW Canada, recognizing the changes resulting from Pension Benefit reform legislation which has been enacted or is in process in the federal and provincial jurisdictions, and substantial amendments to the Canada Pension Plan, shall remove or reclassify the following Resolutions from the Policy Handbook:! Federal & Provincial Pension Benefit Acts; Res.1984/40 (Page 33): Remove – Legislation is in effect in Federal Jurisdiction – Pension Benefits Standards Act; and in Alberta; Manitoba, New Brunswick, Nova Scotiatario, Quebec and Saskatchewan. P.E.I. not yet proclaimed. Draft Bill now pending in B.C. Newfoundland – no legislation. This legislation includes:1. Vesting and Locking in” after 2 years EXCEPT in Alberta, B.C. and New Brunswick which require 5 years; Saskatchewan after 1 year for vesting and locking in only if age + service = 45 years.2. Portability to another employment pension plan or to a locked in RRSP: All Provinces allow portability before reach availability of receiving (an early retirement) pension.3. Prohibit sex discrimination in determining contributions and benefits: Not in Alberta, and possibly B.C.4. Provide surviving spouses a joint life/last survivor pension of at least 60% of the pension benefit earned by the member of the plan, subject to a mutual and informed waiver of this right: All Provinces. 5. Allow credit splitting of the computed value of pension benefits on marriage breakdown, subject to Provincial laws governing the disposition of property on marriage breakdown: All Provinces, but with differences in wording and method of implementation.! Pension Plans by Part-time Employees; Res.84/21(b) reaffirmed by Res. 88/14(b) (Page 11): Remove – Accomplished in above legislation.! The Canada Pension Plan; Res.74/12 (Page 31), Res.82/26 (Page 31), Res.84/38(1),(2)(Page 32): Remove – Accomplished; Res.82/51 (Page 32), Res.82/52 (Page 32): Remove – Out of date; Res.90/13 (page 17): Reclassify – From 300.50 to 600.20 as it deals with CPP survivors benefits.”

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Article ID: 13008