Bill C-576: An Act to amend the Canada Pension Plan (retroactive payments)

C-576 Second Session, Forty-first Parliament, 62-63 Elizabeth II, 2013-2014 HOUSE OF COMMONS OF CANADA BILL C-576 An Act to amend the Canada Pension Plan (retroactive payments) first reading, February 26, 2014 Ms. Chow 412134 SUMMARY This enactment amends the Canada Pension Plan so that a person who applies for a survivor’s pension can receive full retroactive payments, including interest payable on the arrears of that survivor’s pension. Available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca 2nd Session, 41st Parliament, 62-63 Elizabeth II, 2013-2014 house of commons of canada BILL C-576 An Act to amend the Canada Pension Plan (retroactive payments) Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: R.S., c. C-8 CANADA PENSION PLAN 1. (1) Subsection 63.1(3) of the Canada Pension Plan is replaced by the following: Commencement of survivor’s pension (3) On approval by the Minister of an application referred to in subsection (2), a survivor’s pension is payable to the applicant for each month commencing with December, 1988. (2) Section 63.1 of the Act is amended by adding the following after subsection (4): Interest (5) Interest is payable at the prescribed rate per annum in respect of an amount owing as arrears of a survivor’s pension, calculated from the day payment is due to the day payment is made and compounded monthly. 2. (1) The portion of subsection 72(1) of the Act following paragraph (b) is replaced by the following: (c) the month in which the survivor reached sixty-five years of age, in the case of a survivor other than a survivor described in paragraph (a) or (b). (2) Section 72 of the Act is amended by adding the following after subsection (2): Interest (3) Interest is payable at the prescribed rate per annum in respect of an amount owing as arrears of a survivor’s pension, calculated from the day payment is due to the day payment is made and compounded monthly. TRANSITIONAL PROVISION Application 3. (1) This section applies to every person who applied for a benefit before the coming into force of this Act. Arrears payable (2) For greater certainty, if a person has not received all or any part of a benefit that would have been payable to the person had they applied after the coming into force of this Act, the person is eligible to apply for arrears of the benefit. Definition of “benefit” (3) In this section, “benefit” has the meaning assigned by subsection 2(1) of the Canada Pension Plan. Published under authority of the Speaker of the House of Commons