Regulatory Initiative: Regulations Amending the Public Service Superannuation Regulations (Payment for pre-1992 service) – Forward Regulatory Plan 2015-2017
Title or working title of the regulatory initiative
Regulations Amending the Public Service Superannuation Regulations (PSSR) (Payment for pre-1992 service)
Description of the objective
Issue
The Income Tax Act (ITA) requires that all pre-1992 "pensionable employment" service that is transferred to a registered plan (RPP) must be directly transferred from another RPP. This provision does not legally bind the Public Service Superannuation Act.
Description of the Regulation
Regulatory modifications will seek to address the pre-1992 service buyback issue by adapting the Act to be in compliance with the ITA.
Enabling Act
Public Service Superannuation Act
Flag for Business Impacts
These regulations do not apply to businesses.
Public Consultation Opportunities
Public consultations are not appropriate as this issue is internal to the management of the public service pension plan. The modification will have no perceptible impact on the members under the plan.
Departmental Contact
Pensions and Benefits Sector,
613-948-5089,
Deborah.Elder@tbs-sct.gc.ca
For more information
- Government-Wide Forward Regulatory Plans
- Government-Wide Administrative Burden Baseline Counts
- The Cabinet Directive on Regulatory Management
- The Red Tape Reduction Action Plan
- The Canada–United States Regulatory Cooperation Council
To learn about upcoming or ongoing consultations on proposed federal regulations, visit the Canada Gazette and Consulting with Canadians websites.
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