Bill C-260: An Act to amend the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act (deduction of disability pensions)

Canadian Forces Superannuation Act Royal Canadian Mounted Police Superannuation Act First Session, Forty-second Parliament, 64-65 Elizabeth II, 2015-2016 HOUSE OF COMMONS OF CANADA BILL C-260 An Act to amend the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act (deduction of disability pensions) FIRST READING, APRIL 14, 2016 Ms. Mathyssen 421127 SUMMARY This enactment amends the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act to eliminate the inclusion of disability pensions payable under the Canada Pension Plan or a similar provincial pension plan in the deduction from the annuity payable to contributors under these Acts. Available on the Parliament of Canada Web Site at the following address: http://www.parl.gc.ca 1st Session, 42nd Parliament, 64-65 Elizabeth II, 2015-2016 HOUSE OF COMMONS OF CANADA BILL C-260 An Act to amend the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act (deduction of disability pensions) 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-17 Canadian Forces Superannuation Act 1 Subsection 15(2) of the Canadian Forces Superannuation Act is replaced by the following: Deduction from annuity (2) Despite subsection (1), unless the Minister is satisfied that a contributor has not reached the age of sixty-five years, there shall be deducted from the amount of any annuity to which that contributor is entitled under this Act an amount equal to the percentage, as set out in subsection (2.‍1), of (a) the average annual pay received by the contributor during the period of pensionable service described in subsection (1) applicable to him or her, not exceeding his or her Average Maximum Pensionable Earnings, multiplied by (b) the number of years of pensionable service after 1965 or after he or she has attained the age of eighteen years, whichever is the later, to the credit of the contributor, not exceeding thirty-five, divided by fifty. 2 Paragraph 50(1)‍(k) of the Act is repealed. R.‍S.‍, c. R-11 Royal Canadian Mounted Police Superannuation Act 3 Subsection 10(2) of the Royal Canadian Mounted Police Superannuation Act is replaced by the following: Deduction from annuity (2) Despite subsection (1), unless the Minister is satisfied that a contributor has not reached the age of sixty-five years, there shall be deducted from the amount of any annuity to which that contributor is entitled under this Part an amount equal to the percentage, as set out in subsection (2.‍1), of (a) the average annual pay received by the contributor during the period of pensionable service described in subsection (1) applicable to him or her, not exceeding his or her Average Maximum Pensionable Earnings, multiplied by (b) the number of years of pensionable service after 1965 or after he or she has attained the age of eighteen years, whichever is the later, to the credit of the contributor, not exceeding thirty-five, divided by fifty. 4 Paragraph 26(g) of the Act is repealed. Published under authority of the Speaker of the House of Commons