Third Session, 44th General Assembly

50 Elizabeth II, 2001

BILL 59

AN ACT TO AMEND THE PUBLIC SERVICE PENSIONS ACT, 1991 AND THE UNIFORMED SERVICES PENSIONS ACT, 1991

Received and Read the First Time

Second Reading

Committee

Third Reading

Royal Assent

HONOURABLE JOAN MARIE AYLWARD

Minister of Finance and President of Treasury Board

Ordered to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Public Services Pensions Act, 1991 and the Uniformed Services Pensions Act, 1991 to provide that the reduction in a pension to reflect CPP entitlement will not occur until a pensioner, deferred pensioner or employee reaches the age of 65. The Bill would also provide for a corresponding adjustment to a survivor benefit.

This Bill would come into force on January 1, 2002.

A BILL

AN ACT TO AMEND THE PUBLIC SERVICE PENSIONS ACT, 1991 AND THE UNIFORMED SERVICES PENSIONS ACT, 1991

Analysis

PUBLIC SERVICE PENSIONS ACT, 1991

1. S.18 Amdt.

Calculation of pension

2. S.23 Amdt.

Survivor benefit

UNIFORMED SERVICES PENSIONS ACT, 1991

3. S.20 Amdt.

CPP reduction factor

4. S.24 Amdt.

Pension to survivor

5. Commencement

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

PUBLIC SERVICE PENSIONS ACT, 1991

SN1991 c12

as amended

1. Subsection 18(5) of the Public Service Pensions Act, 1991 is repealed and the following substituted:

(5) The reduction under subsection (3) shall occur on the first of the month following the month in which the employee reaches the age of 65 years.

2. Subsection 23(2) of the Act is repealed and the following substituted:

(2) Where the pension entitlement of the pensioner, deferred pensioner or employee on his or her death has not been reduced under subsection 18(5), the reduction shall be applied to his or her pension entitlement on the first day of the month following the month in which he or she would have reached 65 years and the survivor benefit shall be adjusted accordingly.

UNIFORMED SERVICES PENSIONS ACT, 1991

SN1991 c19

as amended

3. Subsection 20(4) of the Uniformed Services Pensions Act, 1991 is repealed and the following substituted:

(4) The reduction under subsection (1) shall occur on the first of the month following the month in which the employee reaches the age of 65 years.

4. Subsection 24(2) of the Act is repealed and the following substituted:

(2) Where the pension entitlement of the pensioner, employee or deferred pensioner on his or her death has not been reduced under subsection 20(4), the reduction shall be applied to the pension entitlement on the first day of the month following the month in which he or she would have reached 65 years and the survivor benefit shall be adjusted accordingly.

Commencement

5. This Act shall come into force on January 1, 2002.

©Earl G. Tucker, Queen's Printer