Third Session, 45th General Assembly

55 Elizabeth II, 2006

BILL 7

AN ACT TO

AMEND THE PROVINCIAL COURT

JUDGES' PENSION PLAN ACT

Received

and Read the First Time ...................................................................................................

Second

Reading .................................................................................................................................

Committee ............................................................................................................................................

Third

Reading .....................................................................................................................................

Royal

Assent ......................................................................................................................................

HONOURABLE LOYOLA SULLIVAN

Minister of Finance and President of Treasury

Board

Ordered to be printed by the Honourable House of

Assembly

EXPLANATORY NOTES

Clause 1 of the Bill would

repeal and replace subsection 5(4) of the Provincial Court Judges'

Pension Plan Act to limit government contributions to the Provincial

Court Judges' pension plan to an amount sufficient to pay the current

service cost as determined by the government's actuary.

Clauses 2 and 3 of the Bill

would amend subsections 13(4) and 23(4) of the Act to clarify that survivor

benefits under the Act will continue to apply to eligible children after the

death of the principal beneficiary. The present wording is in error as it

would have eligible children receiving this benefit only where the principal

beneficiary predeceases the Provincial Court judge pensioner.

Clause 4 of the Bill would

make clause 1 retroactive to April 1, 2002.

A BILL

AN ACT TO AMEND THE PROVINCIAL COURT

JUDGES' PENSION PLAN ACT

Analysis

S.5 Amdt.

Contributions

S.13 Amdt.

Registered survivor benefit

3. S.23 Amdt.

Supplementary survivor benefit

4. Commencement

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL2004 cP-29.1

1. Subsection 5(4) of the Provincial Court Judges' Pension Plan Act is repealed and the

following substituted:

(4) The government of the province shall pay out

of the Consolidated Revenue Fund and pay into the fund established under the Pensions Funding Act amounts set by the

Minister of Finance in a directive that , in addition to

the judge's contributions under subsection (1) , are

(

a) based on the recommendations of the Plans'

actuary, required to meet the cost benefits accruing under

Part III ; and

(

b) permitted under the Income Tax Act ( Canada ).

2. Subsection 13(4) of the Act is repealed and the

following substituted:

(4) Where a pensioner or a judge referred to in

subsection (1) dies

(

a) leaving no surviving principal beneficiary; or

(

b) leaving a surviving principal beneficiary who

dies after that pensioner or judge,

the survivor benefit shall be paid to or

for the benefit of his or her surviving children while they are under the age

of 18 years or under the age of 25 years while they are in full - time

attendance at a recognized school or post - secondary

institution.

3. Subsection 23(4) of the Act is repealed and the

following substituted:

(4) Where a pensioner or a judge referred to in

subsection (1) dies

(

a) leaving no surviving principal beneficiary; or

(

b) leaving a surviving principal beneficiary who

dies after that pensioner or judge,

the survivor benefit shall be paid to or

for the benefit of his or her surviving children while they are under the age

of 18 years or under the age of 25 years while they are in full - time

attendance at a recognized school or post - secondary

institution.

Commencement

Section 1 of this Act shall be considered to

have come into force on April 1, 2002 .

Earl G. Tucker,

Queen's Printer