Regulatory Initiative: Amending the regulations maintaining certain reciprocal transfer agreements, Forward Regulatory Plan 2017-2019

Issue

Reciprocal Transfer Agreements were used to transfer the pensions of employees who were divested from the federal public service in the 1980s and 1990s. The Agreements may also be used by these employees to transfer their pension credits back to the federal public service should these employees return to employment in the public service and become a contributor under the Public Service Superannuation Act.

Given the passage of time, very few employees have utilized these Agreements. Yet, maintaining the Agreements requires ongoing systems administration, reporting, and monitoring by the Government and the 11 organizations for which the Agreements were preserved.

Description of the regulation

The regulatory initiative would amend or repeal the Schedule of the Regulations Maintaining Certain Reciprocal Transfer Agreements for the organizations which have consented to their Agreement’s termination.

Enabling Act

Public Service Superannuation Act