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Budget Implementation Act, 2019, No. 1 (S.C. 2019, c. 29)

Assented to 2019-06-21

PART 4Various Measures (continued)

DIVISION 5Enhancing Retirement Security (continued)

Coming into Force

Marginal note:Order in council

  • 152 (1) Sections 133 to 140 and 142 and subsection 143(1) come into force on a day or days to be fixed by order of the Governor in Council.

  • Marginal note:Order in council

    (2) Subsections 143(2) and (3) and section 144 come into force on a day to be fixed by order of the Governor in Council, but that day must not be before the first day on which both section 142 and subsection 143(1) are in force.

  • Marginal note:Order in council

    (3) Subsections 145(2) and (3) and section 147 come into force on a day to be fixed by order of the Governor in Council.

DIVISION 6R.S., c. C-8Canada Pension Plan

Amendments to the Act

153 Section 60 of the Canada Pension Plan is amended by adding the following after subsection (1.1):

  • Marginal note:Application for retirement pension waived

    (1.2) The Minister may waive the requirement under subsection (1) for an application for a retirement pension to be made by a person or on their behalf if the Minister is satisfied that

    • (a) the person is a contributor;

    • (b) the person is 70 years old or more; and

    • (c) at least one of the following applies in respect of the person:

      • (i) the person is in receipt of a benefit under this Act, the Old Age Security Act or a provincial pension plan, and

      • (ii) a return of income was filed by the person or on their behalf under the Income Tax Act in respect of the year before the year in which the Minister considers waiving the requirement.

  • Marginal note:Effect of waiver

    (1.3) If the requirement for an application for a retirement pension is waived, the application is deemed to have been made and received on the day on which the requirement is waived.

154 Section 67 of the Act is amended by adding the following after subsection (3.1):

  • Marginal note:Retirement pension — application waived

    (3.2) For a retirement pension in respect of which the requirement to make the application was waived under subsection 60(1.2), if payment of the retirement pension is approved, the pension is payable for each of the following months:

    • (a) each month after the month in which the requirement was waived; and

    • (b) each of the 12 months in which the beneficiary had reached the age of 70 — including the month in which they reached that age — before the first month referred to in paragraph (a).

Coming into Force

Marginal note:January 1, 2020

155 This Division comes into force on January 1, 2020.

DIVISION 7R.S., c. O-9Old Age Security Act

Marginal note:2008, c. 28, s. 156

  • 156 (1) Clause (a)(i)(B) of the definition income in section 2 of the Old Age Security Act is replaced by the following:

    • (B) for the purpose of determining benefits payable in respect of any month after June 2008 but before July 2020, the lesser of $3,500 and the person’s income from office or employment for the year,

  • (2) The definition income in section 2 of the Act is amended by adding the following after paragraph (b):

    • (b.1) for the purpose of determining benefits payable in respect of any month after June 2020, there shall be deducted from a person’s combined amount — which is equal to the aggregate of the person’s income from office or employment for the year, as reduced in accordance with paragraph (a), and the person’s self-employment earnings for the year, as reduced in accordance with paragraph (b), if those reduced self-employment earnings are greater than zero — an amount that is equal to the aggregate of

      • (i) the lesser of $5,000 and the combined amount, and

      • (ii) if the combined amount is greater than $5,000, the lesser of $5,000 and half of the amount by which the combined amount exceeds $5,000,

DIVISION 8Non-permitted Surplus

R.S., c. C-17Canadian Forces Superannuation Act

Marginal note:1999, c. 34, s. 152

157 Subsection 55.4(5) of the Canadian Forces Superannuation Act is replaced by the following:

  • Marginal note:Non-permitted surplus

    (5) For the purposes of this section, a non-permitted surplus exists when the amount by which assets exceed liabilities in the Canadian Forces Pension Fund, as determined by the actuarial valuation report referred to in section 56 or one requested by the President of the Treasury Board, is greater than 25 per cent of the amount of liabilities in respect of contributors, as determined in that report.

R.S., c. P-36Public Service Superannuation Act

Marginal note:1999, c. 34, s. 96

158 Subsection 44.4(5) of the Public Service Superannuation Act is replaced by the following:

  • Marginal note:Non-permitted surplus

    (5) For the purposes of this section, a non-permitted surplus exists when the amount by which assets exceed liabilities in the Public Service Pension Fund, as determined by the actuarial valuation report referred to in section 45 or one requested by the Minister, is greater than 25 percent of the amount of liabilities in respect of contributors, as determined in that report.

R.S., c. R-11Royal Canadian Mounted Police Superannuation Act

Marginal note:1999, c. 34, s. 199

159 Subsection 29.4(5) of the Royal Canadian Mounted Police Superannuation Act is replaced by the following:

  • Marginal note:Non-permitted surplus

    (5) For the purposes of this section, a non-permitted surplus exists when the amount by which assets exceed liabilities in the Royal Canadian Mounted Police Pension Fund, as determined by the actuarial valuation report referred to in section 30 or one requested by the President of the Treasury Board, is greater than 25 per cent of the amount of liabilities in respect of contributors, as determined in that report.

DIVISION 9Regulatory Modernization

SUBDIVISION AR.S., c. B-3; 1992, c. 27, s. 2Bankruptcy and Insolvency Act

Marginal note:1992, c. 27, s. 9(1)

160 Subsection 13.2(2) of the Bankruptcy and Insolvency Act is replaced by the following:

  • Marginal note:Annual fees

    (2) Each year, starting with the year in which a licence is issued to a trustee, the trustee shall pay the prescribed fees on or before the prescribed date or, if there is no prescribed date, on or before December 31.

161 Subsection 26(1) of the Act is replaced by the following:

Marginal note:Books to be kept by trustee

  • 26 (1) A trustee shall keep proper books and records of the administration of each estate to which the trustee is appointed, in which shall be entered a record of all moneys received or disbursed by the trustee, a list of all creditors filing claims, the amount and disposition of those claims, a copy of all notices sent out, a signed copy of all minutes, proceedings had, and resolutions passed at any meeting of creditors or inspectors, court orders and all other matters or proceedings as may be necessary to give a complete account of the trustee’s administration of the estate.

SUBDIVISION BR.S., c. E-4Electricity and Gas Inspection Act

162 The Electricity and Gas Inspection Act is amended by adding the following after section 28:

Marginal note:Ministerial regulations

  • 28.1 (1) Despite anything in the Weights and Measures Act, the Minister may make regulations prescribing units of measurement for electricity and gas sales in addition to the units specified in section 3.

  • Marginal note:Expiry

    (2) A regulation made under subsection (1) ceases to have effect on the earliest of

    • (a) the day on which a regulation made under paragraph 28(1)(b) that has the same effect as the regulation comes into force,

    • (b) the third anniversary of the day on which the regulation made under subsection (1) comes into force, or

    • (c) the day on which it is repealed.

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