Marginal note:Establishment of group life insurance plan

• 46.4 (1) The Corporation shall, no later than the date referred to in subsection 46.3(1), establish no fewer than one group life insurance plan for persons referred to in that subsection.

• Marginal note:Benefits, etc., equal to public service regime

  (2) The plans must provide for benefits for the members and their beneficiaries at least equal to those provided under Part II, as it read on the day before the effective date of the plans, at a contribution rate no greater than the contribution rate under that Part as it read on that day.

• Marginal note:Benefits to former employees

  (3) A person has the same rights as a member under subsection (2) if

  • (a) he or she ceases to be employed by the Corporation after the effective date of the plans; and

  • (b) at the time he or she ceases to be so employed, he or she has an entitlement to an immediate pension benefit, other than a lump-sum benefit, under a plan referred to in subsection 46.3(1).

Marginal note:No alteration of plans before October 1, 2001

• 46.5 (1) The terms of the plans referred to in sections 46.3 and 46.4 shall not be the subject of collective bargaining — and shall not be modified with respect to employees not represented by a bargaining agent within the meaning of Part I of the Canada Labour Code — for any period that ends before October 1, 2001.

• Marginal note:Alteration of plans

  (2) The provisions of the plans referred to in subsection (1), other than those referred to in subsection 46.3(7), may be the subject of collective bargaining if notice to bargain collectively is given within the meaning of section 49 of that Act on or after October 1, 2001.

Marginal note:No longer a participant under Part II

46.6 Notwithstanding section 51, a person ceases to be a participant for the purposes of Part II on the day on which section 227 of the Public Sector Pension Investment Board Act comes into force.

PART IISupplementary Death Benefits

Interpretation

Marginal note:Definitions

• 47 (1) In this Part,

  basic benefit

  prestation de base

  basic benefit, with respect to a participant, means an amount equal to twice the salary of the participant, if that amount is a multiple of one thousand dollars, or an amount equal to the nearest multiple of one thousand dollars above twice the salary of the participant, if the first-mentioned amount is not a multiple of one thousand dollars, subject to a reduction of ten per cent, to be made as of the time that the regulations prescribe, for every year of age in excess of sixty-five attained by the participant, except that

  • (a) in the case of a participant who is employed in the public service, the basic benefit shall not be less than

    • (i) an amount equal to one third of the participant’s salary, if that one-third is a multiple of one thousand dollars, or an amount equal to the nearest multiple of one thousand dollars above one third of the participant’s salary, if that one-third is not a multiple of one thousand dollars, or

    • (ii) ten thousand dollars,

    whichever is the greater,

  • (b) subject to paragraphs (c) and (d), in the case of an elective participant who, on ceasing to be employed in the public service, on ceasing to be a member of the regular force or on ceasing to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1, was entitled to an immediate annuity, or an immediate annual allowance, the basic benefit shall not be less than ten thousand dollars,

  • (c) in the case of an elective participant who makes an election under subsection 52(2), the basic benefit shall be five hundred dollars,

  • (d) in the case of an elective participant who makes an election under subsection 52(2.1), the basic benefit shall be five thousand dollars, and

  • (e) in the case of an elective participant who makes an election under subsection 52(2.2), the basic benefit shall be subject to a reduction of ten per cent, to be made as of the time that the regulations prescribe, for every year of age in excess of sixty attained by the participant; (prestation de base)

  benefit

  prestation

  benefit means the amount payable in respect of a participant under section 54; (prestation)

  Crown corporation

  société d’État

  Crown corporation means a Crown corporation as defined in section 83 of the Financial Administration Act, except any such corporation specified in Part I of Schedule I to this Act; (société d’État)

  elective

  volontaire

  elective, as applied to a participant, means that the participant comes within paragraph (c) or (d) of the definition “participant” in this section; (volontaire)

  immediate annual allowance

  allocation annuelle immédiate

  immediate annual allowance means an annual allowance payable within thirty days after the day on which a participant ceases to be employed in the public service after March 31, 1995, or ceases to be required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1; (allocation annuelle immédiate)

  participant

  participant

  participant means

  • (a) a person who is required by section 5 to contribute to the Superannuation Account or the Public Service Pension Fund,

  • (b) an employee of a Crown corporation who is required to contribute to the Superannuation Account or the Public Service Pension Fund in respect of current service,

  • (b.1) a person who is required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1,

  • (c) a person not coming within paragraphs (a) to (b.1) who has made an election under section 51 and continues to contribute under this Part,

  • (d) a person not coming within paragraph (a), (b), (b.1) or (c) who has made an election under section 51 and to whom the basic benefit of ten thousand dollars referred to in paragraph (b) of the definition “basic benefit” in this subsection, or to whom the basic benefit of five hundred dollars referred to in paragraph (c) of that definition — or to whom the basic benefit of five thousand dollars referred to in paragraph (d) of that definition — applies without contribution under this Part by the participant for it,

  • (e) a person to whom subsection 5.1(2) applies, and

  • (f) a person who has made an election under subsection 5.3(1),

  but does not include an employee of a Crown corporation or public board excluded from the operation of this Part by the regulations; (participant)

  public board

  office public

  public board means a board, commission or corporation specified in Schedule I; (office public)

  regular force participant

  participant de la force régulière

  regular force participant means a person who is a participant under Part II of the Canadian Forces Superannuation Act; (participant de la force régulière)

  salary

  traitement

  salary means

  • (a) in the case of a participant employed in the public service, the salary as defined for purposes of Part I, expressed in terms of an annual rate, except that where a retroactive increase is authorized in the salary of that participant, the increase shall be deemed to have commenced to have been received by him on such day as the regulations prescribe,

  • (b) in the case of an elective participant, his salary in the public service at the time he ceased to be employed in the public service, expressed in terms of an annual rate, and

  • (c) in the case of a participant who is required to contribute to the Retirement Compensation Arrangements Account by section 8 or 9 of the Retirement Compensation Arrangements Regulations, No. 1, the salary referred to in subsections 8(3) or 9(1) of those Regulations. (traitement)

• Marginal note:Other words and expressions

  (2) In this Part, words and expressions other than those mentioned in subsection (1) have the same meaning as in Part I.