Marginal note:Short title

1. This Act may be cited as the Public Pensions Reporting Act.

Marginal note:Definitions

2. In this Act,

“Chief Actuary”

« actuaire en chef »

“Chief Actuary” means the Chief Actuary of the Office of the Superintendent of Financial Institutions;

“Minister”

« ministre »

“Minister”, in relation to any provision, means such member of the Queen’s Privy Council for Canada as is designated by the Governor General in Council as the Minister for the purpose of that provision.

Marginal note:Pension plan review

• 3. (1) The Minister shall cause the Chief Actuary to conduct actuarial reviews, in accordance with this section, of the pension plans established under the following Acts:

  • (a) the Canadian Forces Superannuation Act;

  • (b) the Members of Parliament Retiring Allowances Act;

  • (c) the Public Service Superannuation Act;

  • (d) the Royal Canadian Mounted Police Superannuation Act;

  • (e) the Judges Act; and

  • (f) the Old Age Security Act.

• Marginal note:Supplementary Retirement Benefits Act

  (2) Each pension plan referred to in paragraphs (1)(a) to (e) shall be deemed to include the related benefits payable under the Supplementary Retirement Benefits Act and the related assets of the Supplementary Retirement Benefits Account.

• Marginal note:Review dates

  (3) The review dates as of which the actuarial reviews under subsection (1) must be conducted are

  • (a) in respect of each of the pension plans referred to in paragraphs (1)(a) to (e), a date not later than four years after the last review date and, thereafter, dates not more than three years apart;

  • (b) in respect of the pension plan established under Part I of the Old Age Security Act, a date not later than December 31, 1988 and, thereafter, dates not more than three years apart; and

  • (c) in respect of the pension plans established under Parts II and III of the Old Age Security Act, a date fixed by the Governor in Council and, thereafter, dates not more than three years apart.

• Marginal note:Meaning of “last review date”

  (4) In paragraph (3)(a), the “last review date” shall be deemed to be

  • (a) in relation to the Canadian Forces Superannuation Act, December 31, 1983;

  • (b) in relation to the Members of Parliament Retiring Allowances Act, March 31, 1982;

  • (c) in relation to the Public Service Superannuation Act, December 31, 1983;

  • (d) in relation to the Royal Canadian Mounted Police Superannuation Act, December 31, 1985; and

  • (e) in relation to the Judges Act, December 31, 1983.