Marginal note:Change in actuarial methods or assumptions
7. Where, in the review of a pension plan, actuarial assumptions or methods are used that differ from those used for the immediately preceding review in respect of which a cost certificate was filed pursuant to section 5 and such different assumptions or methods result
(a) in a decrease in the going concern unfunded actuarial liability but do not result in an excess of going concern assets over the going concern actuarial liabilities, the outstanding special payments shall be recalculated by multiplying each of the amounts thereof by a factor having, as numerator, the going concern unfunded actuarial liability and, as denominator, the sum of the present values of the previously determined special payments where the present values are calculated on the basis of the actuarial assumptions used at the current review; or
(b) in an excess of the going concern assets over the going concern actuarial liabilities, the valuation report referred to in section 6 shall include a statement as to the method, if any, proposed for the disposition of such excess.
Marginal note:Assets report
8. (1) The Minister shall cause a certification of the assets of a pension plan established under the Canadian Forces Superannuation Act, the Members of Parliament Retiring Allowances Act, the Public Service Superannuation Act, the Royal Canadian Mounted Police Superannuation Act and the Supplementary Retirement Benefits Act to be made and a report thereof to be filed with the Minister at the same time as a cost certificate is filed pursuant to subsection 5(1).
Marginal note:Assets report by Comptroller General
(2) The certification and the assets report referred to in subsection (1) shall be made by the Comptroller General of Canada.
Marginal note:Reports laid before Parliament
9. (1) The Minister shall lay before Parliament any cost certificate, valuation report or assets report filed with the Minister pursuant to this Act, within thirty sitting days of their being filed if Parliament is then sitting, or if Parliament is not then sitting, on any of the first thirty days thereafter that Parliament is sitting.
Marginal note:Dissolution of Parliament
(2) If, at the time any cost certificate, valuation report or assets report is received by the Minister, Parliament is dissolved, the Minister shall forthwith cause a copy of the certificate or report to be published in the Canada Gazette.
RELATED AND CONSEQUENTIAL AMENDMENTS
10. to 13. [Amendments]
Marginal note:Coming into force
Return to footnote *[Note: Act in force December 1, 1986, see SI/86-213.]
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