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First Session, 46th General Assembly 57 Elizabeth II, 2008 |
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AN ACT TO AMEND THE MEMBERS OF THE
HOUSE OF ASSEMBLY RETIRING ALLOWANCES ACT, THE PROVINCIAL COURT JUDGES'
PENSION PLAN ACT, THE PUBLIC SERVICE PENSIONS ACT, 1991, THE TEACHERS'
PENSIONS ACT |
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Received and Read the First Time................................................................................................... |
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Second |
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Committee............................................................................................................................................ |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE THOMAS
W. MARSHALL, Q.C. Minister of Finance and President of Treasury Board |
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Ordered to be printed by
the Honourable House of Assembly |
EXPLANATORY NOTES This Bill would amend the Members of the House of Assembly Retiring Allowances Act, the Provincial Court Judges' Pension Plan Act, the Public Service Pensions Act, 1991, the Teachers' Pensions Act and the Uniformed Services Pensions Act, 1991. In this Bill, the Acts referenced above would be amended to provide that where a plan member dies before receiving a pension and without a principal beneficiary, the commuted value of the plan member's entitlement would be paid to the estate. The Bill also provides for transitional arrangements to deal with current circumstances where a plan member dies before receiving a pension and without a principal beneficiary after the effective date and a survivor benefit is being paid to eligible children. These transitional provisions have not been included for the Members of the House of Assembly Retiring Allowances Act or the Provincial Court Judges' Pension Plan Act as there are no eligible children in receipt of any benefits under those plans. The final clause of the Bill is a
commencement clause. It would make the amendments contained in the Bill
retroactive to the particular dates the pensions Acts were amended to permit
the taking of commuted value on termination or death. |
A BILL AN ACT TO AMEND THE MEMBERS OF THE HOUSE OF
ASSEMBLY RETIRING ALLOWANCES ACT, THE PROVINCIAL COURT JUDGES' PENSION PLAN
ACT, THE PUBLIC SERVICE PENSIONS ACT, 1991, THE TEACHERS' PENSIONS ACT Analysis MEMBERS OF THE HOUSE OF ASSEMBLY RETIRING ALLOWANCES ACT 1.
S.12 Amdt. 2.
S.13 Amdt. 3.
S.21 Amdt. 4.
S.22 Amdt. PROVINCIAL COURT JUDGES' PENSION PLAN ACT 5.
S.12 Amdt. 6.
S.13 Amdt. 7.
S.22 Amdt. 8.
S.23 Amdt. PUBLIC SERVICE PENSIONS ACT, 1991 9.
S.23 Amdt. 10.
S.23.1 Amdt. 11.
S.23.2 Added TEACHERS' PENSIONS ACT 12.
S.26 Amdt. 13.
S.27.1 Amdt. 14.
S.28.1 Added UNIFORMED SERVICES PENSIONS ACT, 1991 15.
S.24 Amdt. 16.
S.24.1 Amdt. 17.
Ss.24.2 Added 18. Commencement Be it enacted by the Lieutenant-Governor and
House of Assembly in Legislative Session convened, as follows: MEMBERS OF THE HOUSE OF ASSEMBLY RETIRING ALLOWANCES ACT SNL2005 cM-6.1 1. (1) Subsection 12(1) of the Members of the House of Assembly Retiring Allowances Act is amended by adding immediately before the word "member" the word "vested". (2) Subsection 12(2) of the Act is repealed and the following substituted: (2) If a vested member dies before receiving a registered allowance and there is no principal beneficiary entitled to a survivor benefit under section 13, the commuted value of the entitlement of the member under this Part, calculated as of his or her date of death, shall be paid to the estate of the member. 2. Subsections 13(4) and (5) of the Act are repealed and the following substituted: (4) Where a pensioner or vested member referred to in subsection (1) dies leaving a surviving principal beneficiary who dies after that pensioner or vested member, 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. (5) Where for any reason a survivor benefit ceases
to be payable, the amount by which the member's contributions, together with
interest to the date the benefit commenced at a rate prescribed by the Minister
of Finance, exceeds all benefits received from the registered plan shall be
paid to the person whose benefit ceased or to that person's estate. 3. (1) Subsection 21(1) of the Act is amended by adding immediately before the word "member" the word "vested". (2) Subsection 21(2) of the Act is repealed and the following substituted: (2) If a vested member dies before receiving a
supplementary allowance and there is no principal beneficiary entitled to a
survivor benefit payable under section 22, the commuted value of the entitlement
of the member, calculated as of his or her date of death, shall be paid to the
estate of the member. 4. Subsection 22(5) of the Act is repealed and the following substituted: (5) Where a pensioner or vested member referred to
in subsection (1) dies leaving a surviving principal beneficiary who dies after
that pensioner or vested member, 1/3 of the survivor benefit shall be paid to
or for the benefit of each of his or her surviving children or, where the total
amount payable under this section would exceed the maximum benefit payable
under this Act, the survivor benefit shall be divided equally among all of the
eligible children. PROVINCIAL COURT JUDGES' PENSION PLAN ACT SNL2004 cP-29.1 as amended 5. (1) Subsection 12(1) of the Provincial Court Judges' Pension Plan Act is amended by adding immediately before the word "judge" the word "vested". (2) Subsection 12(2) of the Act is repealed and the following substituted: (2) If a vested judge dies before receiving a
registered allowance and there is no principal beneficiary entitled to a
survivor benefit under section 13, the commuted value of the entitlement of the
judge under this Part, calculated as of the date of death, shall be paid to the
estate of the judge. 6. Subsections 13(3) and (4) of the Act are repealed and the following substituted: (3) The survivor benefit shall be paid to the
surviving principal beneficiary for life and shall commence on the first day of
the month following the month in which the pensioner or vested judge dies. (4) Where a pensioner or vested judge referred to
in subsection (1) dies leaving a surviving principal beneficiary who dies after
that pensioner or vested 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. 7. (1) Subsection 22(1) of the Act is amended by adding immediately before the word "judge" the word "vested". (2) Subsection 22(2) of the Act is repealed and the following substituted: (2) If a vested judge dies before receiving a
supplementary allowance and there is no principal beneficiary entitled to a
survivor benefit under section 23, the commuted value of the entitlement of the
judge, calculated as of the date of death, shall be paid to the estate of the
judge. 8. Subsection 23(4) of the Act is repealed and the following substituted: (4) Where a pensioner or vested judge referred to
in subsection (1) dies leaving a surviving principal beneficiary who dies after
that pensioner or vested 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. PUBLIC SERVICE PENSIONS ACT, 1991 SNL1991 c12 9. Subsection 23(5) of the Public Service Pensions Act, 1991 is repealed and the following substituted: (5) Where a pensioner referred to in subsection
(1) dies leaving no surviving principal beneficiary, 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 24 years while they are in
full-time attendance at a recognized school or post-secondary institution. 10. (1) Subsection 23.1(1) of the Act is amended by adding immediately after the word "service" the phrase "or a deferred pensioner". (2) Subsection 23.1(2) of the Act is repealed and the following substituted: (2) Where an employee with at least 5 years of pensionable service or a deferred pensioner dies before receiving a pension and there is no principal beneficiary entitled to a survivor benefit under section 23, the commuted value of the pension entitlement of the employee or a deferred pensioner, calculated as of the date of death, shall be transferred to the employee's or deferred pensioner's estate and subsections 7(2), (3) and (4) apply to the transfer. 11. The Act is amended by adding immediately after section 23.1 the following: Transitional 23.2 (1) A
child who is receiving a survivor benefit when this section comes into force who
is a child of a deceased employee or deferred pensioner who died without a
principal beneficiary after (a) continue to receive the survivor benefit while he or she is under the age of 18 years, or under the age of 24 years while in full-time attendance at a recognized school or post-secondary institution; or (b) be paid the commuted value of his or her entitlement determined at the date of the death of the deceased employee or deferred pensioner, less any payments already received by the child at the date of election. (2) Where the total survivor benefit paid under
subsection (1) is less than the deceased employee's or deferred pensioner's
commuted value at the date of death, the difference in the commuted value and
the total survivor benefit paid shall be paid to the estate of the deceased
employee or deferred pensioner. (3) Notwithstanding the entitlements referred to in subsection (1), where a deceased employee or deferred pensioner had more than one child, the children shall elect jointly and there shall be only one election for the payment of the entitlements. (4) Unless an election is made under subsection (1), a survivor benefit shall be continued as if continuation under paragraph (1)(a) had been elected. TEACHERS' PENSIONS ACT SNL1991 c17 12. Subsections 26(2) and (3) of the Teachers' Pensions Act are repealed and the following substituted: (2) Where a surviving principal beneficiary dies while in receipt of a survivor benefit, the survivor benefit shall be paid to or for the benefit of any surviving children of the employee, pensioner or deferred pensioner, while they are under the age of 18 years, or under the age of 24 years while they are in full-time attendance at a recognized school or post-secondary institution. (3) Where a pensioner referred to in subsection (1) dies leaving no surviving principal beneficiary, 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 24 years while they are in full-time attendance at a recognized school or post-secondary institution. 13. Subsection 27.1(2) of the Act is repealed and the following substituted: (2) Where a teacher with at least 5 years of pensionable service or a deferred pensioner dies before receiving a pension and there is no principal beneficiary entitled to a survivor benefit under section 26, the commuted value of the pension entitlement of the teacher or the deferred pensioner, calculated as of the date of death, shall be transferred to the teacher's or deferred pensioner's estate and subsections 9(3), (4) and (5) apply to the transfer. 14. The Act is amended by adding immediately after
section 28 the following: Transitional 28.1 (1) A
child who is receiving a survivor benefit when this section comes into force who
is a child of a deceased teacher or deferred pensioner who died without a
principal beneficiary after (a) continue to receive the survivor benefit while he or she is under the age of 18 years, or under the age of 24 years while in full-time attendance at a recognized school or post-secondary institution; or (b) be paid the commuted value of his or her entitlement determined at the date of the death of the deceased teacher or deferred pensioner, less any payments already received by the child at the date of election. (2) Where the total survivor benefit paid under
subsection (1) is less than the deceased teacher's or deferred pensioner's
commuted value at the date of death, the difference in the commuted value and
the total survivor benefit paid shall be paid to the estate of the deceased
teacher or deferred pensioner. (3) Notwithstanding the entitlements referred to in subsection (1), where the deceased teacher or deferred pensioner had more than one child, the children shall elect jointly and there shall be only one election for payment of the entitlement. (4) Unless an election is made under subsection
(1), a survivor benefit shall be continued as if continuation under paragraph
(1)(a) had been elected. UNIFORMED SERVICES PENSIONS ACT, 1991 SNL1991 c19 15. Subsection 24(5) of the Uniformed Services Pensions Act, 1991 is amended by deleting the comma immediately after the word "pensioner" the first time it occurs and by deleting the phrase "deferred pensioner or employee". 16. (1) Subsection 24.1(1) of the Act is amended by adding immediately after the word "employee" the phrase "with at least 5 years of pensionable service". (2) Subsection 24.1(2) of the Act is repealed and the following substituted: (2) Where an employee with at least 5 years of pensionable service or a deferred pensioner dies before receiving a pension and there is no principal beneficiary entitled to a survivor benefit under section 24, the commuted value of the employee's pension, calculated as of the date of death, shall be paid to the estate of the employee and subsections 9(2), (3) and (4) apply to the transfer. 17. The Act is amended by adding immediately after
section 24.1 the following: Transitional 24.2 (1) A
child who is receiving a survivor benefit when this section comes into force who
is a child of a deceased employee or deferred pensioner who died without a
principal beneficiary after (a) continue to receive the survivor benefit while he or she is under the age of 18 years, or under the age of 24 years while in full-time attendance at a recognized school or post-secondary institution; or (b) be paid the commuted value of his or her entitlement determined at the date of the death of the deceased employee or deferred pensioner, less any payments already received by the child at the date of election. (2) Where the total survivor benefit paid under
subsection (1) is less than the deceased employee's or deferred pensioner's
commuted value at the date of death, the difference in the commuted value and
the total survivor benefit paid shall be paid to the estate of the deceased
employee or deferred pensioner. (3) Notwithstanding the entitlements referred to in subsection (1), where a deceased employee or deferred pensioner had more than one child, the children shall elect jointly and there shall be only one election for the payment of the entitlement. (4) Unless an election is made under subsection
(1), a survivor benefit shall be continued as if continuation under paragraph
(1)(a) had been elected. Commencement 18. (1) Sections 1 to 4 shall be considered to
have come into force on (2) Sections 5 to 8 shall be considered to have
come into force on (3) Sections 9 to 11 shall be considered to have
come into force on (4) Sections 12 to 14 shall be considered to have
come into force on (5) Sections 15 to 17 shall be considered to have
come into force on ŠEarl G. Tucker, Queen's Printer |